San Pablo City Council
December 18, 2023

CITY OF SAN PABLO, CALIFORNIA

ANNUAL COMPREHENSIVE

FINANCIAL REPORT
Fiscal Year Ended June 30, 2023

CITY OF SAN PABLO, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2023

PREPARED BY THE

FINANCE DEPARTMENT

CITY OF SAN PABLO, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents
P a g e
INTRODUCTORY SECTION:

Table of Contents .................................................................................................................................................... i Letter of Transmittal ................................................................................................................................................ v Elected Officials and Administrative Personnel ................................................................................................. xiv Organization Chart ................................................................................................................................................ xv GFOA Award ....................................................................................................................................................... xvi San Pablo Zoning District Map ................................................................................................. ......................... xvii
FINANCIAL SECTION:

Independent Auditor’s Report ............................................................................................................................. 1 Management’s Discussion and Analysis ............................................................................................................. 5 Basic Financial Statements:

Government-wide
Financial Statements:

Statement of Net Position ..................................................................................................................... 14 Statement of Activities .......................................................................................................................... 15 Fund Financial Statements:

Governmental Funds:

Balanc e Sheet .................................................................................................................................... 18 Reconciliation of the Governmental Funds Balance Sheet
with the Statement of Net Position ............................................................................................... 19 Statement of Revenues, Expenditures, and Changes in Fund Balances ........................................... 20 Reconciliation of the Net Change in Fund Balances – Total Governmental Funds with the Statement of Activities ......................................................................................... 21 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual:

General Fund ................................................................................................................................. 22 i

CITY OF SAN PABLO, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents
P a g e
FINANCIAL SECTION (Continued):

Custodial Funds:

Statements of
Fiduciary Net Position .................................................................................................... 24 Statements of Changes in Fiduciary Net Position ................................................................................. 25 Notes to Basic Financial Statements ............................................................................................................ 27 Required Supplementary Information:

Pension Plans:

Schedule of the City’s Proportionate Share of the Net Pension Liability – Miscella neous Plan ............................................................................................................................ 78 Schedule of Contributions – Miscellaneous Plan ................................................................................. 79 Schedule of the City’s Proportionate Share of the Net Pension Liability – Safety Plan ......................................................................................................................................... 80 Schedule of Contributions – Safety Plan .............................................................................................. 81 OPEB Plan:

Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios ....................................... 82 Schedule of Contributions ...................................................................................................................... 83 Supplemental Information:

Non-major Governmental Funds:

Combining Ba lance Sheets .................................................................................................................... 90 Combining Statements of Revenues, Expenditures, and Changes

in Fund Balances ............................................................................................................................... 94 Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual ............................................................................................ 98 Custodial Funds:

Combining Statement of Fiduciary Net Position ................................................................................. 104 Combining Statement of Changes in Fiduciary Net Position .............................................................. 105 ii

CITY OF SAN PABLO, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2023
Table of Contents
P a g e
STATISTICAL SECTION:

Net Position by Component – Last Ten Fiscal Years .............................................................................. 109 Changes in Net Position – Last Ten Fiscal Years .................................................................................... 110 Fund Balances of Governmental Funds – Last Ten Fiscal Years ........................................................... 112 Changes in Fund Balance of Governmental Funds – Last Ten Fiscal Years .......................................... 114 Assessed and Estimated Actual Value of Taxable Property – Last Ten Fiscal Years .......................................................................................................................... 116 Property Tax Rates – All Overlapping Governments - Last Ten Fiscal Years ....................................... 117 Principal Property Taxpayers – Current Year and Nine Years Ago ....................................................... 118 Property Tax Levies and Collections – Last Ten Fiscal Years ............................................................... 119 Ratio of Outstanding Debt by Type – Last Ten Fiscal Years .................................................................. 120 Computation of Direct and Overlapping Debt ........................................................................................ 121 Computation of Legal Bonded Debt Margin ........................................................................................... 122 Bonded Debt Pledged Revenue Coverage,
Redevelopment Agency Tax Allocation Bonds - Last Ten Fiscal Years .......................................... 123 Debt Service Coverage Schedule – Tenth Township and Legacy Project Areas ................................... 124 Demographic and Economic Statistics – Last Ten Fiscal Years ............................................................. 125 Principal Employers – Current Year and Nine Years Ago ...................................................................... 126 Full-Time Equivalent City Government Employees
by Function – Last Ten Fiscal Years ................................................................................................. 127 Operating Indicators by Function/Program ............................................................................................. 128 Capital Asset Statisti cs by Function/Program ......................................................................................... 129 iii

City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
December 12, 2023
Dear Mayor, Members of the City Council and Citizens of the City of San Pablo:

We are pleased to present the Annual Comprehensive Financial Report (ACFR) for the City of San Pablo, California, (City) for the fiscal year ended June 30, 2023. The ACFR is presented in accordance with the principles and standards of acc ounting and financial reporting by the Governmental Accounting Standards Board (GASB) and provides information needed for readers to gain a reasonable understanding of the City’s financial activities. Responsibility fo r both the accuracy of the da ta and the completeness and fairness of the information— including all disc losures—rests with the City. To the best of Management’s knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to fairly present the financial position and results of the operations of the various entities of the City of San Pablo. An overview of the City’s financia l activities for the fiscal year is discussed in detail in the Manage ment Discussion and Analysis (M D&A), which can be found in the financial section immediately following the Independent Auditor’s Report. This Letter of Transmittal is designed to complement the MD&A and is intended to be read in conjunction with it.

INDEPENDENT AUDIT
The audit of the City’s financial statements was performed by the independent, certified public accounting firm of Maze & Associates. The go al of the audit is to obtain reasonable assurance that the financial statements are free of material misstatements and are presented fairly and in conformity with generally accepted accounting principles (GAAP ). In their Independent Aud itor’s Report, Maze & Associates issued an unmodified opinion with respect to the City’s financial statements for the fiscal year ended June 30, 2023. The independent audit involved examining, on a test ba sis, evidence supporting amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by the management; and eval uating the overall financial presen tation. Maze & Associates has concluded, based upon the audit, th at there was a reasonable basis fo r rendering an unmodified audit opinion that the City of San Pablo’s financial statements for the fiscal year ended June 30, 2023, are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles. The independent auditor’s report is presented as the first component of the financial section of this report. v
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
Profile of San Pablo

The City of San Pablo was incorpor ated in 1948 as a general law city under the laws of the State of Californ ia. Located in West Contra Costa County along Interstate 80, San Pablo is situated just minutes away from the Bay Area cultural centers of Berk eley, Oakland, and San Francisco, and in relative proximity to five brid ges leading to all parts of Northern California. Historically one of th e oldest Spanish settlements in the region, the architecture of San Pablo’s new Spanish style City Hall with a fountain and courtyard is a proud reflection of that heritage.

THE CITY COUNCIL

The City is governed by a five-member City Council, under the Council- Manager form of government. Council Members are elected at large to staggered four-year terms with three Council Members and two C ouncil Members in alternating elections, at two-year intervals. Each year, the Co uncil appoints one of its members to serve as Mayor.

The Council is vested with policym aking and legislative authority and appoints the City Manager and City Attorney. The City Manager is responsible for carrying out the policies and ordinances of the Council, for overseeing the day-to-day operations of the City, and for appointing department directors.

THE BUDGET, FISCAL & LEGISLATIVE STANDING COMMITTEE

The Budget, Fiscal & Legislative Standing Committee (BFLSC), comprised of two standing City Council Members, provides a lay review of proposals in context of the established goals and priorities of the City.

They have the authority to approve the proposal as presented or may give approvals subject to revisions.

A proposal meeting the approval of the BFLSC is then recommended for formal consideration in a scheduled public hearing before the City Council and is formally adopted if approved.

DEMOGRAPHICS

Size: 2.6 square miles, all of which is land
2022 Population: 31,389
Gender: 50.9% male, 49.1% female
Median Resident Age: 32.5
Estimated Median Household Income: $67,294
Owner Occupied Household: 40.8%
Median Home Value: $582,012
Median Rent Per Month: $2,200

Source: US Census, 7/2022, California Demographics, Zillow vi
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
The City provides a full range of municipal servic es, including police (public safety), community development (planning, land use and building regu lation), public works (cap ital projects, street maintenance and environmental services), community services (rentals, senior services, and recreational programming), administration and fisc al services. Fire protection serv ices is provided by the Contra Costa Fire Protection District (ConFire). Water se rvices are provided by Ea st Bay Municipal Utility District (EBMUD), sewer services by the West County Wastewater District, and solid waste and recycling services by Republic Services.

Internal and Budgetary Controls

INTERNAL CONTROLS
The Finance Department, in conjunction with the City's management team, is responsible for establishing and maintaining an internal control structure designed to ensure that the City' s assets are protected from loss, theft, or misuse. The internal control structure is designed to provide reasonable assurance that these objectives are met, while recognizi ng that this assurance is not abso lute. The concept of reasonable assurance recognizes that: 1) the cost of a control should not exceed the benefits likely to be derived; and 2) the valuation of costs and be nefits requires estimates and judgments by management. City administration believes the existing internal control systems are adequate to provide reasonable assurance that the City's assets are safeguarded against loss and that the financial records are reliable for preparing financial statements and maintaining accountability for assets, this belief su pported in part by the auditor’s unmodified opinion.

BUDGETARY CONTROLS

The City’s ordinance requires the adoption of a budget for the following fiscal year before July 1st every year. The City’s Management presents a two-year operating budget and five-y ear Capital Improvement and Equipment Plan annually. The objective of budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budge t approved by the City Council. The City’s budgetary control is maintained at the individual departmental leve l and any change in the adopted appropriations by department requ ires approval from the City Manager and/or City Council. The City maintains an encumbrance accounting system. Encumb rances and appropriation for unfinished capital projects are generally re-appropriated as part of the following year’s budget.

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City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012

CASH MANAGEMENT

The City manages a pooled investme nt program for all funds in which temporarily idle funds during the year were invested in accordance with the City’s approved Investment Policy. The policy affords a broad spectrum of investment opportunities, as long as the investment is deemed prudent and permissible under currently effective legislation of the State of California and other imposed restrictions. Criteria for selecting investments and the order of priority are safety, liquidity, and yield. Th e cash management system of the City is designed to accurately monitor and forecast expenditures and revenues, thus ensuring the investment of monies to the fullest extent possible. Attempts are made to obtain the highest yields available as long as investments meet the criteria required for safety and liquidity.

Major Initiatives and Priority Workplan

Over the years, the City has become a thriving residential and business community. San Pa blo is home to Contra Costa Community College and is fortunate to have a wealth of community re sources including a li brary, a sports park, a childcare facility, a regional healthcare facility, and a career center. Many multilingual nonprofits represent the diverse support services offered to residents. The City also offers youth programs at the award-winning San Pablo Community Center (SPCC) and senior services at the Senior Center which meet a variety of needs and interests. Other such initiatives include:
• Services for Families and Youth: Youth, School, and Community, Partnerships Division (YSCP) is committed to the healthy development of youth with a focus on developing positive opportunities, programs, and partnerships that will provide children and youth with skills, knowledge, support, and resources leading to healthy and productive lives. YSCP programs, services, and initiatives support a community where government, families, schools, law enforcement, and
organizations work together to create an environment
conducive to supporting young people, their learning, and their success.

Local Tax Measure Initiatives (Measure S and Measure J) • Childhood Obesity Prevention Gr ant Program and Advisory Gr oup: Funded through Measure S, this program focuses on increasing community awareness of the obesity epidemic, increasing accessibility to healthy food and physical activity opportunities, and expanding healthy eating/active living programs, the Community Ac tion Plan also identified program and policy priority areas to guide collaborative efforts towards a healthier San Pablo. The current Childhood Obesity Prevention Grant Pr ogram (COPGP) provides gr ant opportunities for local organizations, schools, and other agencies to implement ac tivities and services that promote physical movement and nutrition education.
viii
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
• San Pablo Beacon Community Sc hools: San Pablo City Counci l adopted the Full-Service Community Schools Initiative (FSCSI) with the go al of transforming all schools in San Pablo into Full-Service Community Sc hools. In February 2016, the Ci ty joined the Beacon National Network, a multicity collaborative of community schools. In a Communi ty School, the school district, city, county, community, faith-base d organizations, busine sses, families, and philanthropists form a strong, deep, and transparent partnership. They can jointly address the identified needs of students, families, and the community in a comprehensive, integrated, and accountable way. The group shared leadership works towards a common vision and agenda, and shares responsibility for results. A Community School focuses on the ne eds of the whole child – physical, emotional, social, and academic – to create the conditions nece ssary for all children to learn and be successful in life. This program is primarily funded through Measure S.

• Paratransit: San Pablo Senior and Disabled Transportation Services provides door-to-door shuttle service to eligible seniors 50 years and older and adults with disabilities, all who live in the 94806-zip code. Our priority is to provide a safe, affordable, and enjoyable experience for our riders. The City provides rides to medical appointments, grocery shopping, the post office, the bank, and/or other community locations for a low fee. Twice a month our transportation service offers delivery of groceries provided by the Contra Costa County & Solano County Food Banks for qualifying participants. The transportation program is funded by the Measure J tax initiative and is supported by the West Contra Costa Tran sportation Advisory Committee and the Contra Costa Transit Authority.

Driving the initiatives is the City’s FY2023-25 Priority Workpl an, adopted by the City Council on May 1, 2023, and dedicated to developing, preserving, and protecting the quality of life and cultural diversity of its citizens in addition to striving to provide exce ptional public services in its day-to-day operations.

It is a policymaking document esta blished by the City Council for the purpose of providing policy direction for implementation by the City Manager. Even though the FY2023-25 Priority Workplan is a dynamic, evolving document, it main tains five major policy goals under which priority items are given review and consideration:

1. Build a Healthy Community

2. Enhance Community Resilience

3. Expand Housing Options

4. Focus on Economic Development and Diversification

5. Improve Public Safety

ix
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
Economic Condition and Outlook

The local and regional economy continues its up-and-down recovery from the challenges brought by the current US and world economy caused by the COVID-19 pandemic. In flation in housing, food, fuel, and other living expenses in the local and Bay Area region greatly impacts the region’s recovery. Despite the proven historical econom ic strength and resiliency of the Ba y Area region, the region's economic growth is faced with many changes. Changes in the work culture, which can range from in-office, remote, “hybrid-remote” and on-the-go workers, as well as trends in po pulation migration and business location impacts the overall economic direction of the region.

THE ECONOMIC FORECAST

Economic forecasts are important to ensure that projections reflect recent economic developments and current law, allowing local governments to create well-informed economic, monetary, and fiscal policies.

Emerging from an economy impacted by COVID, the pandemic brought pe rmanent changes to the City in terms of economic activity and affordability. The Ci ty continues to face ch allenges from several economic issues stemming from inflation, high interest rates, industrial production, and a changing labor market.

These cues alone, however compelling, are not an accur ate indicator of the economy. Inflation, interest rates, industrial production, consumer confidence, worker productivity, retail sales and employment rates are often used with historical context to determine the outlook.

Below is a summary analysis of some key indicators of the region’s economic environment.

EMPLOYMENT

In June 2023, the US economy show ed a significant slowing of mont hly job gains post-pandemic and reported a national unemployment rate of 3.6%. In the months prior to COVID, Contra Costa County reported unemployment rates of 3.0% or lower; contrasted with the current County unemployment rate of 4.2%, there are indications that the County has yet to fully recover the workforce lost to the pandemic.

Prices have been reflective of the tighter labor market and the above average wage gains; in turn, that has impacted the local economy as businesses struggle to attract and retain staff while balancing their bottom line.

Unemployment Rate – June, 2023 Fiscal Year Change
United States 3.6% 0%
State of California 4.6% +.4%
Contra Costa County 4.2% +1.0%

Source: CA.gov EDD, US Dept. of Labor
x
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012

INFLATION

In the closing month of the fiscal year, the US annual inflation rate slowed to 3.0%, a sharp drop from a year ago where high energy costs helped spike inflation to 9.1%. While inflation, as measured by the CPI, has eased for 12 consecutive months and the underlying core CPI index at 4.8% has cooled as well, it may not deter the Federal Reserve from raising rates as it has done on a m onthly basis since March 2022. The potential impact of high er rates is the curb ing of borrowing and sp ending, key elements affecting property taxes and sales.

SALES AND USE TAXES

The statewide sales tax trends have been heavil y impacted by many economic challenges including inflation, interest rate hikes an d price of taxable goods. Tax pro ceeds from general consumer goods declined by 4.8%in the second quarter statewide, with retailers forecasting modest declines for 2023 with household finances tightening and the demand for furnis hings and appliances stalling with the delays in new constructions and home improvement projects.

PROPERTY TAXES

California home sales continue to be challenging for buyers with c oncerns of a slowing economy, high mortgage rates, inventory shortages (estimated at 3.5 million statewide) and tough mortgage qualification requirements. The Federal Reserve is predicted to maintain their tr end of increasing interest rates (climbing to a 20 year high), which, coupled with the limited available inventory, has become a deterrent to potential buyers from entering the real estate market.

In FY 2022‐ 23, San Pablo’s taxable assessed property valu e is $2.5 billion, 77.3% of which represents residential parcels. Property values increased by approximately 4.3%, compared to the County’s overall increase of 6.3%.

In 2023, there were 7,601 city par cels that were taxable. The median sale price of Sa n Pablo detached single-family homes from Januar y through September 2023 was $530, 500, a decrease of -$24,500 (-

4.4%) from the 2022’s median sale price.

Year Sales Median Change
2019 111 $446,000 4.9%
2020 106 $459,000 3.0%
2021 142 $540,500 17.6%
2022 64 $527,500 -2.4%
2023* 52 $530,000 -4.4%

*Year-to-Date (through September 2023) Source: HDL
xi
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012

CASINO REVENUE
The casino revenues from the Lytton Band of Pomo Indians (Band) are an essential revenue source to the City of San Pablo (City). Curren tly, the Municipal Services Agreement (MSA) with the Band provides approximately 60% of gene ral fund revenue to the City. This revenue funds Police, Recreation, Information Technology, Public Works, Code En forcement and Building Pl an Check and Inspection functions.

In accordance to the MSA signed in September 1999 between the Band and the City, the Band will make an annual Minimum Municipal Services Payment of One Million Five H undred Thousand Dollars ($1,500,000) to the City semi-annua lly with one-half due and payable on the 15th of December and the 15th of April and shall increase or decrease annually in the same amount as real property taxes otherwise paid by owners of commercial property within the Ci ty. At the date of the ex ecution of the Agreement, both the Band and the City acknowledge the amount of 2% per year.

Significant Events and Accomplishments
• The City successfully negotiated 5-year MOU employee labor agreements • City’s First Digital Budget Book - Biennial GF Operating and CIP Budget for FY 2022-23 and FY 2023-24
• City of San Pablo 75th Anniversary celebration for the City’s incorporation date of April 27, 1948 • Proclamation recognizing and celebrating the ten-year (10) anniversary of the San Pablo Economi c
Development Corporation
• Maintain City’s Financial Credit Rating: A-/A-
• Received the 2021-22 GFOA Excellence in Financ ial Reporting Award (26th Consecutive Year Award Recipient)
• Updated policy amendments to the new FY 2023-25 Council Priority W orkplan
xii
City of San Pablo Letter of Transmittal

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
Certificate of Achievement
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financia l Reporting to the City of San Pablo for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022. To receive a Certificate of Achievement, a government must publish an easily readable and efficiently organized ACFR. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. City staff believes that its current ACFR continues to meet the Certificate of Achievement Program requirements and will again submit its ACFR to the GFOA to determine eligibility for another certificate. xiii

CITY OF SAN PABLO
1000 Gateway Avenue
San Pablo, CA 94806
Phone 510.215.3000 ● 510.215.3011 Fax
LIST OF CITY OFFICIALS 2022-2023
Mayor Abel Pineda T e r m
t o E x p i r e : 1 1 / 2 4
1648 15th S t r e e t ( C ) 6 9 1 - 0 6 7 3
San Pablo, CA 94806
Email: [email protected]
Vice Mayor Patricia Ponce Term to Expire:
11/24
2618 Manchester Avenue (C) 409-2324
San Pablo, CA 94806
Email: [email protected]
Councilmember Rita Xavier Term to Expire:
11/26
2703 18th S t r e e t ( C ) 2 5 3 - 5 2 9 8
San Pablo, CA 94806
Email: [email protected]
Councilmember Arturo Cruz Term to Expire:
11/24
2411 Church Lane, Apt. 1 (R) 478-3889
San Pablo, CA 94806
Email: [email protected]
Councilmember Elizabeth Pabon-Alvarado Term to Expire: 11/26 183 Westgate Circle (C) 377-4020
San Pablo, CA 94806
Email: [email protected]
City Clerk T e r m t o E x p i r e : 1 1 / 2 6
Dorothy Gantt (C) 650-776-4124
1824 21
st Street, Apt. 14
San Pablo, CA 94806
Email: [email protected]
City Treasurer Viviana Toledo Term to Expire: 11/26
1213 Stanton Avenue (B) 215-3004
San Pablo, CA 94806
Email: [email protected]
City Manager Matt Rodriguez Council Appointment
Email: [email protected] ( B ) 2 1 5 - 3 0 1 6
City Attorney Teresa L. Stricker C o u n c i l A p p o i n t m e n t Email: [email protected] (B) 215-3009
xiv
CITY OF SAN PABLO ORGANIZATIONAL CHART, FY 2022/23
EFFECTIVE 7/1/22 (Revised 09/06/2022) TOTAL FTE: 162 AND 7 ELECTED OFFICIALS (EO)

CITY MANAGER 1.0

1.0 Executive Assistant to CM

1.0 Dep
uty City Clerk

SAN PABLO CITY COUNCIL

7.0 EO
CITY ATTORNEY 1.0

1.0 Paralegal

2.0 FTE

SWORN STAFF

2.0 Police Captain

4.0 Police Lieutenant

10.0 Sergeant

45.0 Police Officer

NON-SWORN STAFF

1.0 Police Support Services Manager

1.0 Police Support Supervisor

1.0 Police Executive Assistant

9.0 Police Services Technician

4.0 Police Services Technician -Jailer

7.0 Police Admin. Clerk

1.0 Building Inspector

1.0 Sr. Maintenance Worker

87.0 FTE

RECREATION SERVICES

1.0 Community Services Manager

1.0 Community Services Supervisor

2.0 Community Services Coordinator I/II

SENIOR SERVICES

1.0 Community Services Coordinator I/II

1.0 Sr. Administration Clerk

YOUTH, SCHOOL & COMMUNITY

PARTNERSHIPS (YSCP)

1.0 Community Services Manager

1.0 Community Services Supervisor

2.0 Community Services Coordinator I/II

PARATRANSIT

1.0 Community Services Coordinator I/II

2.0 Paratransit Driver

14.0 FTE

BUILDING SERVICES

1.0 Chief Building Official

1.0 Building Inspector

1.0 Sr. Permit Technician

2.0 Permit Technician

1.0 Administrative Clerk I/II

PLANNING SERVICES

3.0 Assistant/Associate Planner

1.0 Planning Aide

1.0 Administrative Secretary

12.0 FTE

ENGINEERING

1.0 Management Analyst

1.0 Sr. Civil Engineer

1.0 Sr. PW Inspector

2.0 Assistant/Associate Engineer

1.0 Administration Clerk I/II

ENVIRONMENTAL SERVICES

1.0 Sr. Environmental Program Analyst

2.0 Environmental Program Analyst

MAINTENANCE & FACILITIES

1.0 Maintenance & Operations Superintendent

2.0 Maintenance Supervisor

4.0 Sr. Maintenance Worker

9.0 Maintenance Worker I/II

1.0 Sr. Administrative Clerk

27.0 FTE
ASSISTANT CITY MANAGER 1.0

RISK MANAGEMENT

MUNICIPAL POOLING AUTHORITY (MPA)

1.0 Management Analyst (Housing)

1.0 Administrative Clerk I/II

HUMAN RESOURCES
MANAGER 1.0

HR FUNCTIONS/

MANAGEMENT SUPPORT

1.0 Management Analyst HR

POLICE DEPARTMENT
CHIEF OF POLICE 1.0

COMMUNITY DEVELOPMENT

COMMUNITY DEVELOPMENT
DIRECTOR 1.0

FINANCE DEPARTMENT
DIRECTOR OF FINANCE 1.0

COMMUNITY SERVICES

COMMUNITY SERVICES
DIRECTOR 1.0

PUBLIC WORKS DEPARTMENT

PUBLIC WORKS DIRECTOR/
CITY ENGINEER 1.0

13.0 FTE

INFORMATION TECHNOLOGY
MANAGER 1.0

IT FUNCTIONS,

SERVICES, AND SUPPORT

2.0 I.T. Administrator

2.0 I.T. Technician

BUDGET & FISCAL SERVICES

1.0 Accounting Manager

1.0 Management Analyst

1.0 Accountant

2.0 Accounting Technician

1.0 Fiscal Clerk I/II

7.0 FTE
xv
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of San Pablo
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June
30, 2022
Executive Director/CEO
xvi
Miner Ave
Richmond Parkway
G
ateway Ave
1789
1757
NA
1665
1527
1621
1509
1503
1621
1533
1200
1441
NA
1405
1375
1303
1343
1411
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1309
1321
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1203
1334
1212 NA
1317
1318
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1301-09
1327
1159
1145
1250124012301200 1260
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1160
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200420162018202621002108 211221342138214021902200
1183
1173
1167220922012135212521172109210120332029201920111144 NA NA 200020102012202421002104 212021242136222622322234
1229
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1217
1203-13
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20002010202020502100210621122116 21302126 2134220622122216 1265
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1901
13061819182518051801
1806181018181826190019041916192819321279
1265
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1777
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1208
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1230
1240
1252
1260
1266
1272
1278
1284
1290
14531445143914311421
14111401
1291
1287
1283
1277
1271
1265
1259
1251
1241134913411331132513151307
1318
1310
14991200
13041312 1322 1328133813461356
1402
1408 1418142814381207
134713251335 1345
123114351220
1240
1250
1256
1264
1270
1276 1430 1275
1269
1263
1257
1251
1241
1330 14221426131413261320NA
1320
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305
1305 1329131513371341135113611409141514211427
149814201414141214041400132813361334
1432150215081516152415281536154015441614161816221632NA
1627162516211615161316111609160716051533152915251521151515091501 150015041514 1528153215361540 16181624163015201524 16121600 1702170817181722172417261736 1754182018181822NA1750
182518051801175317471745173917231721171517131705
1700170617201722 17341736 180018081814181617541748174417381726 19001910192019241928NA19342000200220902092209420962098
1349
134520212011NA19231917191519131911190919071901
19001912191419161922193019381944200220042010202020222024 201520131939
2104210621082118212621282132 2214221622002140
1321
1357
NA
2225221722132211NA21332127212521172107-1321052101
210021102112 21322208 2212
1371
2122NA
2215220722072205213322032201211521092101
2100 213421362200 2216
1439
2204
1405
2110 1425
NA2118
20292015201120052001195319411935192919231919191319091901 1900 19161924193219381944 20062010201620242028
1912
20192023
2000
18171813180717551751174517431735172517231721171717131701 1700170817121718 1724173017401742 18001808142517821762
1629
16301626162216161606160015401538153615241510150815061500 1501150915131525152715291531153316011609161316191621
1411
1452
1302
142414201414140814041340133813361332132613161472
1454
1484
1321NA131113271329140114911493 1499
1517
1515
1509
14151405-071401-0313391337133513331331
1532
1550
140014041524
1318
1522
1542
13381340
1408
161716131605160115411537
1540
152915211507
1512
1516
1524
15221528
1533
1536
15051631
1508
1503
1652
NA
13201328
1637
1627
1623
16171600
1327
1610
1620
1645
1649
1634
1640
1646
1631
14001410 1414 14321657
1645
1643
1629
1625
1615
1609
1421
1608
1606
1614
1620
1626
1632
1640
1646
1621
1650
15281530
1643
1629
1623
1605
1603
16011523
1501
1614
1620
1628
1630
1640
1648
1641
15421540
16021604160616081610
1527-29
1521
1604
1606
1608
1634
1640
1642
1617
1623
1531
1535
1601
1615
1600
1602
1724
1716
1708
1700
1611
1707
1709
1620
1724
1710
1708
1704
1725
1727
1539NA
1412
1712
1706
1700
1701
1709
1715
1733
1732
1718
1712
1700
1701
1709
1715
1723
16081616 NA
1739
1737
1750
1748
1746
1740
1621
1753
1761
15241526
1753
1755
1749
1737
1736
1752
1506
141814201424NA
1755
1753
1747
17371413
1736
1750
1760
1746
1780
1770
1300
1761
1753
1752
1742
NA
1737-391745
181017131703
1700 1714
1721
1724
172717291731
180418021800
1816
NA
18171811180117491743173717291723171717111701
1706
17061710 171617261734 18001810174017461712 1727
20292021201720092001194919331929192519211911
1724 NA
1900NA19121922192819301934194620002010201620242030
1901
NA20011947NA192919271923191719111600
190019101916 19281934194419482000200420061922
201718171811180117491743173517291727171917131701
1640171017161722172817361740174818001810
181718091743173717251723171917071500
170217081716172617321738174417501800 1810
18071803
1627
1517202120192011200319451939193319271919
1900190819161922 1942194820002010 1527
19151510
2018202419341928
220021382134
2129
1708
21002110211821222130
1700 NA 2218
22172209220121352133212921272101
2100211021142116211821362142 22202222
1637
1613
1607
160121092125-28
22102200
221322092201213721352119211321092101
2100 21362142220022102212
1529
1521
1515
1507
1503
2114 NA2120
1914
12511239
12251219
1213
1207
2180
2190
2200
2210
2220
2230 900906
910
914
NA
918
NA
922
921
917913909905901
1000101010141020102410301036104410521058
111110511043103310291023
10171013
1005
1000
1010
1012
1020102410301036
10441052
1230
1200
2001
1150
NA
2141
NA
2025
2031
2037
NA
NA
NA
1831
1801
1841
1333NA
1830
1820
1819
1829
1835
NA
1833
NA
1819
143314251401
1816
1824
1832
1412
15221841
1835
1827
1819
1801
15231515
1507
1816
1818
1832 1510
1841
1833
1827
1821
1623
1815
1601
1816
1828
1834
1842
1612
16171613
1881
1873
1861
1855
1876
1872
1852
1864
1850
1872
NA
1881
1873
1865
15291521
1872-02
1879
NA
1852
1875
1865
1852
1868 13281873
1861
1333
1321
1700
1874
1869
1864
1858
1854
1847
1836
1831
1829
1827
1701
NA1873
17121879
1824-26
1828
1874
1890NA
17281732173617401877
1875
1871
1865
1859
1855
1851
1845
1841
1839
NA1825
1823
1737
17231717 1729
1860
1830
1818
1824
1830
1834
1850
1854
1858
1864
1872
1878
1886 1806181418201826
1877
1869
1865
18331829
1823
NA
18291819
18011811-21
1844
1849
1857
1839
1845 1870
NA
2100211021142118
2132
1879
21332125
NA
1856
1854
21222126
1824
1820
1826
1830
NA
1842
1848
1854
1858
1868
1872
1876
-84 220822162218
1885
1885
NA
1835
1831
22052201
1841
1873
NA 1832
1836
1842
1848
1862
1864
1866
1876
1890 23162328
1865-75
1859
1851
1847
1837
1831
1823
1821
1820
1850
1874
1884
1890
2346236223682376
1875
1865
1859
1855
1851
1847
1835
1829
1827
1811
2373237123652341
1864
1854
1842
1828
1820
1826
1830
1842
NA
1850
1858
1868
1878
2400241024182422
1871
1867
1863
1853
1849
1843
1837
1827
1821
2433NANA2419NA
1808-14
24282434
1820
1826
1830
1836
1846
1850
1854
1864
1872
1876
2500250825122516252225282532
1875
1865
1859
1855
1847
1841
1837
1835
1823
1821
253125292527252525152503
1814
2635NANA261526112601
1826
1830
1834
1840
1844
1848
1868
1874
2600260826142622262826322634NA
1825
NA
1822
1858 1862
NA
1917
2707
1936
1944
1924
1920
1943
NA
1901
1941
1937
1909
262126131900
1920
1930
1962
1972
1936
1926
1927
1921
1975
1967
1963
1959
1949
1929
1927
1925
2533
251525092501
1938
1940
1948
1954
1958
1964
1966
1970
1976
2525
1989
1969
1963
1953
1947
1945
1937
2435243124272423241524112401
1932
1940
1950
1954
1958
1964
1968
1976
NA
1983
1985
1935
NA237123672363235923532347
1936
1936
1946
1950
1998
1970
1980
1966
1976
1956
1943
1979
1971-75
1961
1959
1951
1990
1989
1949
-15
232923232319
NA
NA
1960
NA
NA
1982
NA
NA
1979
1985
1963
2001
1993
2006
2012
1937
1943
NA-12
1987
1979
1971
NA
1961
1949
NA
1927
2229221522112201
1936
NA
1940
1964
1974
1948
1984
1988
1994
1998
2000
2002
2014
2022
2030
2034
2044
2013
1942
1944
2001
2033
2031
20192011-13
2001
1979
1975
1971
1961
1953
1945
1939
NA
21332127
2109
1936
1970
1974
1978
1988
1990
1998
2000
2016
2036
2040
2044
2048
2037
1946
1940
1964
1958
1954
1950
-092005
21012105
2123
1995
1999
2012
2006
2043
2035
2025
2021
2013
2005
1997
1987
1981
1975
1971
1965
1957
1953
1951
1949
1947
1945
NA202520232017
1924
1940
1948
1950
1952
1954
1958
1984
1988
1992
1996
1998
2010
2024
2028
2034
2038
2042
2050
2053
1989
2056
2014
2018
1900
2011
2029
2023
NA
2011
2001
1999
1997
1995
1985
1971
1969
1959
1949
1947
1943
1939
1935
1933
1931192319151901
NA
1962
1972
1976
1980
1986
1988
1998
2000
2016
2020
2024
1944
1942
1950
NA
2033
2007
2005
1999
1997
1987
1977
1971
1965
1963
1953
1949
1943
1939
1935
182523471815
1934
1938
1942
1948
1952
1958
1962
1966
1980
1982
1986
2000
2015
1994
1992
1813
1999
1997
1987
1983
1965
1959
1945
1943
1939
1935
17591751174317351731
1936
1942
1950
1958
1962
1966
1974
1980
NA
1988
1994
NA
1973
1971
NA
1993
1989
1985
1969
1963
1943
1939
NA
17151701
19771974
19481949
19551972
1655
1964
1965
1957
1953
1949
1939
1921
1619
1918
1920
1930
1938
1952
1958
1944
16011611
1965
1955
1945
1927
1923
1919
1902
1908
1914
1926
1932
1938
1944
1952
1958
1958
15111519 15331525
1937
1935
1962-4
1965
1957
1951
1943
1931
1931
1931
1921
1911
14331425141514111401
1924
1932
1936
1942
1952
19561951
1941
1939
1935
13531323
1940
1942
1964
1934
1938
1920
13011305130913131317
1919
151115071501147714651453
144114271413140113431329
1970
1313
NA
2012
1304
13241334
13461410
14221430
14421450
14601470
1482
1490
1500
15201530
1540160016101620163016401652
1352
1422
14361495
14851433
1421
1336
1305
2114
2126
2140
1300
13121324 13361400
14121424
14361551
15011433
14211411
13811371
1363
1355
1345
1335
15521510152015301540
16001610
162016301640
1683
1695
16411631
1621161116011541
15311521
15111502
16011605
2210
2220
2230
2240
2250
2260
22652255
2245
2235
2225
2215
2205
1595
15211515
15111445
13351331
2210
2220
2230
2240
2250
2260
22701300130813141318
1324133013361342
NA
1720
1724
176417721776
1780
18041808
1341
14471345
130113051327
NA
1666
1674
1682
1698 1712172417361800 1820183019001912 1922193419461958200020122024203620482050 19741933192119111914
1969
19611955
1949194319391931
19251919
19091811180117331721171117011699
2007 2021
NA
NA
NA
2060
2025
NA
NA
NA
NA
NA
NANA
2090
2395
14117
2100
2080
2040
2022 2133
2421
2409
2101
NA
21082102
13965
13993
2135
NA
2433243524372439
2115
24292431
2425242724002406
24262432
24502037
2033
2422
2418
24462440
2401240324052407
2409241124132415
2417
24192421242324252427
2000
2026
2032
20312022
2006 2023
-50
NA
2402NA
13901
13921-29
5 NA
1 2499
2451
NA2425
2635
NA
13900
13908
NA
2405
2411
13880
13830
2215
NA
13928
13956
14008
14000
14020
13968
1-60
2011-31
1900-1910
1849-1883
1950
1946
1871
9891011 10151025
2425
2435
2445
2455
2465
2475
2485
1013102310332493
901919
2496
2494
2488
2482
2476
2470
2464
24522446
2449
2453
2465
2477
2489
2490
2478
2466
2454
2442
2430
1069
1125
NA
1101
1013
1014
2529
2515
NA2501
2541
2553
1009
10021004
920924 NA
9581004 102410341040
1016
946940
916
930
NA900
935933
2680
911919 929
933
941
2666
945 1011959 1019102110311039
2502
2518
2542
2552
2560
2600
2618
110811161124
2610
12101200
2650
1201120512071211
1121
11011109
1123
2832
2812
2947
2943
2933
2911
2905
2909
29091/2 1120
2915
2907
2901
2900
2906
2916
2930
1110
1240
2802
100010062889
2885
2873
2867
2861
2855
2849
2825
2819
2801
2815
2826
2818
2810
2827
2829
980
2800
2804
2808
2812
2818
2820
2830
2840
2856
2862
2866
2874
2882
2892
2873
2865
2847
2841
2843
2839
2831
2817
2813
2809
2805
2824
2828
1130
NA
NA
2772
NA
100010062797
2795
2777
2775
2769
2781
2779
2762
2764
2766
2768
2774
2798
11182797
2791
2781
2775
2771
2769
2745
2784
2796
2765
2738
2742
2760
2764
2768
NA
2772
NA
2794
2798
2799
2797
2779
2775
2773
2765
2763
2761
2759
2769
2771
2766
2768
2772
2784
2780
2794
2796
1300
1320
2789
2785
2779
2771
2759
2755
2745
2741
2885
2881
2875
2865
2863
2853
2847
2849
2833
2827
2821
2817
NA2801
2804
2810
2816
2826
2832
2838
2840
2842
2844
2846
2868
2870
2882
1248
1324
2843
2837
2829
2821
2815
281128092800
2808
2816
2820
2828
2838
2844
2862
2864
2866
2855
1474
NA
2807
2801
2802
2812
2822
2836
2828
1414
2800NA1516
1500
2799
2789
2787
2785
2779
2775
2769
2767
2763
2759
2753
2747
2748
2754
2762
2766
2770
2782
2784
2788
1410
2783
2745
2737
2735
27312722
2750
2752
2758
2762
2766
2770
2778
2782
2786
2790 1500
2763
2759
2723
2717
2777
1628
1628
NA2749
2743
2739
NA2707
2706
2700
2726
2728
2732
2752
2754
2768
16182780
1700
1728
2729
2725
2723
2721
NA
2734
2738
2703
NA
2708
2720
1826
2709
2707
NA
2722
2702-2706
19221936
2685
2689
2670
2622 2030
2020
2611
2000
2600
2116
2559
2547
2539
2531
2523
19411937
2517
2577
2569
2565
2559
2547
2533
2525
2517
2501
2538
2546
2560
2564NA2570
2510
2532
2528
2506
2500
2075-77
2050
2579
2571
2567
2559
2551
2543
2533
2523
25152509
2501
2518
2526
2528
2546
2554
2566
2572
2578
2500
14465
14461
NA14451
NA
NA
NA14433
14427
14409
144012201
2508
2520
2524
2532
2542
2546
2554
2560
2570
14417
2250
14341
14301
22112201
2422
2457
2400
2412
2414
2450
14317
14395
2492
2482
2472
2462
21402240
14375
14345
NA
2473
2463
2457
2449
2435
2433
2425
2417
2413
2401
2404
2416
2428
2446
2450
2460
2464
2470
2476
2478
2488
NA
2489
2485
24812477
2473
2467
2463
2453
2443
2433
2425
2417
2403
19091905
2375
2365
2355
1907
2314
2322
2336
NA
19001910
2351
2342
2345
2339
2329
2333
19191929
2323
2330-2334
2306
20202028
2349
2341
2335
2331
2319
20092003
2334
2340
2348
2360
2376
2342
2320
20292021
2317
2365
2349
2343
2339
2331
2327
2323
213121172101A2101
2312
2336
2342
NA
2364
2332
2322
14273
14237
2326
2330
2332
NA
2342
2348
2200
14205
142591426
142491425
2300
2363
2357
2351
1780
2354
2360
2400
2406
2410
2416
2422
2428
2432
2438
2442 17501760
1770
2399
2393
2387
2381
2375
2369
2465
2459
2453
2449
2443
2439
2433
2429
2423
2417
24112407
2401
2361
2355
2349
23432337
23311781
2327
2321
2315
230117731765
2300
2306
2314
2320
2328
2334
2340
2348
2356
2360
2400
2406
2414
2420
2428
2432
2438
2617
24602450
1715172117391739
1751
2435
2421
2415
2407
2401
2361
2355
2349
2341
2335
2329
2321
2315
2307
2301
2441
2435
2429
2423
2417
2411
2460
2466
2472
2372
2378
2384
2390
2396
2402
2408
2414
2420
2426
2432
2438
2444
2450
2456
2462
2468
2300
1825
2318
2324
2330
2336
2342
2348
2354
NA
1879-1889
2600
2610
2620
2930
2640
2650
2660
2670
NA
2669
2659
2649
2639
2629
2619
26152609
2605
2571
25312520
2532
2540
2546
2600
2610
2618
2628
2636
2644
2650
2658
2662
2668
2672
2680
2690
2670
2676
2677
2671
2665
2661
2657
2651
2647
2641
2635
2629
2623
2617
2611
2607
2601
2585
2579
2571
2565
2559
2551
2545
2539
2531
2523
2517
2511
2505
2671
2661
2655
2647
2639
2631
2623
2617
2609
2601
2545
2539
2531
2525
2519
2511
2501
2526
2532
2540
2546
2552
2560
2568
2574
2584
2600
2604
2608
2612
2618
2624
2632
2636
2642
2648
2652
2660
2500
2510
2518
2526
2532
2540
2548
2556
2564
2570
2578
2600
2608
2616
2624
2630
2648
2656
2664
2672
2680
2686
2690
1541
153115211511
1501
14001414
14201430
14401450
15001510
26812675
2669
2661
2651
2633
2625
2617
2609
2601
2579
2571
2565
2557
25412537
2531252525152505
2520
2600
260626122614
2616
2620
2626
2630
2634
2638
2644
2648
2652
2656
2660266626702676
2680
2670
2676
2654
26752661
2645
2641
2637
2633
2627
2621
26112606
2614
2624
2630
2636
2640
2646
2650
14411431
14211415
14091401
26972693
2691
NA
2687
2683
2679
2675
2671
2667
2661
2655
2651
2647
2641
2637
2631
2625
2617
2611
2605
2601
2541
2531
2521
25092471
2536
25172509
24492441
24352429
24232415
2404
2414
2420
2428
24362470 24782500251025182526
2465
2459
2451
2441
2435
2429
2423
2417
2411
2405233923312323
2310
2320
23282332
23382344
24002410
24182424
24302436
24422501
23612349
2343233723312327
23212315
1313
1347134113351329
23002324
23302338 23422346
23502356
2360
2366
2370
2380
12131415
16171819
40 393837
36353433
202122
32313029282726252423
2 3 4 56 78 91011
111415161718
19 2122 2324 3130
20 160162
164
166
168170
172174
176178
182184
186188
102104
106108
110112
114116
120122
124126
134132
130128
142140
138136
150148
146
144
156
154
152
NA
171
173
179181
183185
111113
115117
119121
137139141143145147NA
2600
2600
21002114
220022082216
2134
NA2232
1888
NA
20222028NA
21612151214120112001195119311921
191111
15 204120312021 2051 21012111 21212131
2120
2130
2140
2150
2200
2210
2220
22212211
20512031202120112001194119311921
1901
19301940195020002010 21002110 21202130 214021502040205020202030 20102020 20302141
2121
2111
16 14 1941-45
18811861
1871
1861
1851
18411831
18211811
18201830
1880
1821
1811
1801
1751
10 14 16 18
17 15
1820 10
14 16 18
19 17
15 1860 1900
1910
1920
1930
1861
18011741
18001810
18201830
18401850
1860
1880
2101
20612051
20412031
20212011
2001
1951
19411931192119111901
1730
17311721
1711
1851
1831
1821
1811
1710
1720
1730
1650 18001810
1820
1830
18401850
18601900 19101920 19301940
19501960
20002010
2020
2030
20402050103
NA
104
2110
1741
1731
1721
1711
17311711
1710
1720
1730
1740
17501760
18001810
11 1516
14 10
1751
1741
15 17
19 21
2324
22 20
18 16
14 17111701
16611651
1641163116211611
1610
15 11 1620163016401650
16601670
17001710
1720
1730
1740
1651
14 16
10 1611
1601
16201515
1511
1501
1415
1409
1401
1315
1311
13091305
121912151209
34003401
1131
1134 11381200 12061210 12141300
13081314
14001410
1416
1500
1510
1517
14211415
1321
1319
1315
1309
13051219
1217121312091205
1201
1200 12041208 12121222
1300
1318130512431237123312251217
12161224 12321236 12401300 13081312 14001410 14201426 1500 1518
1618
1622
1626
1632
1636
1642
1648
1652
1700
1704
1708
1710
1714
1800
180818103201 19001906 19101914 19181922 19261930 19341938 1940
3200
3206
3210
3300
3306
3310
3314
3316
193519311927192319191915191119051821181518111805180117211717 1939
3320
1711
1617
193919271923191919151911190719011821181518111805
1711
1707
1701
1649
1645
1639
1635
1629
1700
1800
1810
1818
1824
1836
1850
3305
1931NA
1927192319191915190919051901
1831
1819
1809
1808
1818
19001910 19141918
19221926 1930
3311
NA
2999
2988
2990
2992
2994
2996
2998
1933
1929
19251921
19171913
1909
1905
NA
NA
2999
2997
2995
2993
2991
2989
2987
2983 2984
2988
2992
2994
2996
2998
19162997
2995
2993
2991
2989
2987NA NA
1121
112711231115
3500
3510
3520
3524
3528
11161124
3527
3519
3511
350110291021101710091005945941933
3427
3421
3415
3409
3405
34011075107110691005
923
91892493294094410041008101610201028
947
915911
927 933
NA
3420 NA
3327
3315
3309
3305102110191015101110051003935925919911
3300
914 918926 93494010421004106810701026
3322
11391125
3400
3402
3420
1104
1120
11111115
11321126
11251115
3300
3312
3318
1108
1120 112611321140
11311213
1201113111231117
3200
3206 11261210
3210
3208
1102
12231215
3229
3221
3213
3209
3205104510111001991981971961951941931921911901
910960 978980
10001002100810201026
906904
116
10221026
3169
3163
3157
3151
314510111015
122512211215
1133112911271111
3150
3152
3160
3166
11181126 11321140 12141220
12011209
1119
1229122312051203120111351121
1101
3126
3136
11141116
114012061208121212181228
11191115
1127
1130
3125
3119
3111
10101014
10091013
3069NA
3058
3060
3062
11201122
3065
3069
3065
1216
1206-08
3070
2951
NA
3002-60
NA2969
2945
1109
1105
3054
2941
2989
2981
1125
3018
3012
3024
2925
2953
NA
2985
NA
2975
2965
2961
2951
2947
2939
2927
2925
29091205
2948
2958
2960
2960
NA
2919
2932
2926
2942
2938
2990
2968
1291
2989
2983
2975
2965
2961
2951
2943
2933
2929
2919
2911
1301
2918
2926
2936
2944
2952
2968
2976
2982
2990
2960
2998
29031309
2951
2945
2937
2935
2911
2905
2900
2910
2918
2924
2936
2940
2950
2919
2923
2973
2945
2939
2933
2923
2906
2916
2924
2934
2944
2950
2970
2930
2909
2901
2919
2913NA
NA
NA
2891
2879
2882
2886
2894
1411
2883-85
1441
2895
2891
2885
2877
2867
2853
1525
2856
2868
28842890
2892
2865
2857
1501
2876
2878
2841
2564 2893
2867
2861
2849
2841
1615
1601
2834
2838
2842
2844
2854
2858
2864
2878
2892
2884
2880 2887
2837
2831
2883
2825
2821
2817
2811
17802885
2883
2881
2873
2867
2861
2857
2819
2809
2818
2822
2826
2850
28582860
28801/2
2884
2888
2894
2840
2830
2862
1705
2837
2835
2877
2867
2875
2855
2849
2843
2817
2815
28052802
2812
2814
2830
2836
2844
28702874
2876
2882 2885
288118401800
2860
2858
2856
2852
2957
2955
2945
2943
2937
2929
29022904
2920
2932
2940
2960
2901
2909
2915
29212908
2916
2964
2962 2987
2937
2935
2933
2919
2911
2903
2922
2930
2940
2966
2932
2932
2959
2958
2956
2944
2904
1845
29652948
2942
2936
2928
2918
2912
2906
2900
2915
2921
2927
2935
2943
2949
2979
2949
2952
2960
2972
2976
2961
2955
NANA
2946
2940
2934
2928
2922
2916
2908
2900
2903
2909
2917
2925
2933
2939
2945
2951
2895
2889
2869
2859
2841
2835
2825
2819
2805
2810
2816
2830
2846
2852
2858
2868
2882
2884
2843
2834
2838
NA
2909
2909
290320152005
2914
2924
2958
2978
2982
2986
2833NA
2823
20952029
2800
2816
2826
2840
2846
2854
2870
2882
2880
2890
2843
2863
2871
2853
14771
14761
14701
14789
14800
14820
2821
2813
2805
14700
14726
14772-788
14748
284714734
14760
14718 NA
NA
14640
NA14622
NA
14650
14668
14660
NA
14559
14501
2750
NA
NA
14673
NA
14655
14620
14625
2724
2736
NA
2746
2764
14641
2774
2768
146212718
2701
202420302773
2759
2751
2747
2731
2727
2717
2711
2705
2023
NANA
NA
2001
2720
2726
2730
2742
2752
2754
2760
2776
2016
2781
2775
2755
2741
2735
27312737
1937
1923
2742
2746
2752
2754
NA
2782
1901
2736
2721
2779
2765
2755
27491815
1803
2764
2776180018081814
1835
1749
1715
12451301 1319133713551371 13931401 14091417 1429 3190
3184
3178
3166
3160
3152
3144
3138
3130
3126
3120
3114
3108
3100
147414621456144814321424141614101404
14431461
14021414 14261440
3165
31433139
3137
3135
31333131
147114651451143314191411
3110
3122
3134
3146
3158
3170
13241318
1306
1315 13211329
1348133613221316
1310
1302
13111323
13353141
3163
3175
3187
13441328131213001250
2830-2830
3001
2827
2833
2846
NA
2860
2834
2876
2697-99
2655
NA
2645
26982690
2646
NA
27162732271627082700
25002376
14260
2364 2392
2394
2422
2600
2801
2900
100
2600
2929
2600
2550
14330
14400
14480
14402
2550
2390
2601
924
950
800
NA
NA
14510
14520
NA
14616
14600
NA
2561-95
1130
1140
1150
1160
NANA
11801175
1167
1161
1155
1145
1135
1125
1117
110352031100
1104
1108
1112
1116
1120
1124
1128
1132
11361137
1133
1129
11251125
1121
1117
1113
1109
1105
1101 1100
1120
11104948
50495037
4942
5021-31NA
49365036
50974972
13110
13122
4908
5005
NA
5100
NA
49165012 50365060
1330
5310
5303
1424
1432
1539
1533
1529
1515
1507
1447
1441
1443
1425
5283
5247
1448
1456
1500
1520
5269
5261
5261
1528
3634-38
2526
2500
524852505272527652825286
53005310
524052325224
136013701380
1501
1457
1447
1441
1433
1425
52355229
522152135201
1424
1430
1440
1446
1454
2400
2525
26062614
26202632
2638
NA
27262734
2808
28262832
28372825NA
24242426
NA
2524
NA
2885
2560
2428
24322510
2640
26662670
NA
27022710 27182724 2703
2699
2421
2525
2905
2913
2919
2925
29292933
29392943
2909
2522
2524
25262528
25302532
2534
2610
2620
1 3
5 7 9
10 8
6 4
2 1
3 5
7 9
11 1517
19 250316146
4 2
NA
NA
NA2520
2601
2611
26212631
26412651
2628
2628
2656
265626482648A
13644
2914
2920
2924
2934
2930
NA
2330
13742
NA
13728
13717
NA
13723-29NA
2842-64
NA
1900
1916
1914
1910
NA
1850
1357911 131517192123
252729313335
37 394143
45 47
495153555759
61636567
697173757779
81838587
89 9193959799
101103105107
109
111113115117119
121
123125127129131
NA
NA
261014
18222630
34 38424650
54 586266707478
82869094
98102
104108
112116
120124128132
150
2023A2023
13501
13561
13577-3613
2140
2000
NA
13401
13561
13296
13255
NA
13233
NA
NA
2089
1-76
1000
2121
1002-1016
1002-21
2101
NANA
NA
NA
8415
NA
NA
NA
25013464
13428
13328
13350
13352
NA
40 50
300
NA
NA
3101
3107
3111
25342522
2525
NA
57111312
1306
1354
1370
1330
1340
5650
5636
5632
5628
5626
5606
5600
1300
13511331
5654
5660
NA
5680
1275
1231
1215
54215423
1200
1210
1220
1230
1242
1246
1283
1291
1263
1253
12115447
1253
1249
1243
1237
1231
1229
1225
12215624
NA
1204
1218
1220
1254
1264
1270
5619
5623
5635
1234
1234
1224
1200
1264
5667 1265
1261
1253
1249
1243
1237
1231
1229
1225
1219
1217
5663
565156431228
1230
1234
1238
1242
1246
1250
1254
57415739
1216
1220
1224
1230
1232
1236
1240
1246
5727
5735
54305446 5450
11115555552354415431542154115401
53451100
1140
1160
1180
54705480
5490
56235631
56455647
56555665
57355665
5663
5653
5643
5633
5625
5601
5600
1140
1120
1130
54295421
1008
1026 5435
5426 5500
5501
550255175519
54035411
5521
5659
5659
5659
5659
5659
5659NA
5401
NA
1414
1420
1430
1440
1450
1500
1506
1516
1524
1536
1540
5400
5428
5434
1539
1535
1531
1527
1465
1427
54295425
1511
1459
1447
1455
5517
1420
1430
1442
1474
1504
1510
1516
1524
1530
NA
NA
NA
NA
NA
NA
NA
1400
NA
5531
NA
NA
NA
NA
1460
1466
56125700
NA
1505NA
5555
5549
5501
NA
5457
5451
5417
5425
1670 5433
5433A
NA
1610
2990
NA
2999
2923
2921
2905
1721
1717
NA
1605
1531
NA
1701
1515
1517
1724
NA
13201
13139
NA
NA
13041
NA13021
NA
13013
1297212990
12996 1093
1087
1089
NA
1080
1090 1100
1079
1075 1064
1074
1080 5120
1075
1065 1064
52025210 5220
1322
1330
1338
1344
1346
1350
2316
NA
1408
1414
1420
1424
1436 2316
1500
1516
1524
231423161544
1610-14
1616
1634
1640
1691 2364237023802388
2358
24082420243024322488
252625322538
2540
1651
1680
26182626
2650
1646
1250
3401
3575
3255
3363
NA
NA
3131
NA
3415
53505370 54205442
5460
1793
1791
1733
1729
10 48
24 47
5480-548235
23 NA
NA
NA
NA
NA
NANA
NA
58415833
58215811
5801
55895553
NA5511
18021812

NANA NA
NANA
18131805
1801
54915475
54615445
543154155405
NA
1764
17701800
1810
58025820
1791
1771
1768
5900590859185926 5936594459545962 59725980
5990
598959635955594559315925591759071792
59005902
5914
59265938 59505962 NANA
NA
3625
NANA
NA
NA3320
3508
35163548
3560
3550
NA
3500
34363440
3410-3420
252321191715
24681012
141618202224
2628303234
3638404244464850525456586062
5557596163 NA
5351494745
102104106NA
NA
3430-3430
1 2454
2366
2360
2460
2448
2436
2424
2451
2449
2441
2433
2425
2417
2409
2401
14101414
301-700
1519
-21
22302260
1515
14280
14270
80 SAN PABLOCITY OF
Zoning District Map
Legend
Specific Plans
Overlay Districts
Air Quality Health Risk Overlay
Hillside Overlay
Multifamily Overlay
San Pablo City Limit
Zoning Districts
SP1 - 23rd Street Specific Plan
SP2 - San Pablo Avenue Specific Plan
23rd Street/San Pablo Avenue Overlap
R-1 Single-Family Residential District
R-2 Two-Family Residential District
R-3 Multifamily Residential
R-4 High-Density Multifamily Residential
RMU - Residential Mixed-Use District
NC - Neighborhood Commercial District
CR - Regional Commercial District
CMU - Commercial Mixed-Use District
IMU - Industrial Mixed-Use District
I - Institutional District
OS - Open Space District
0 0.25 0.50.125 Miles
SOURCE: Contra Costa County, 2018; City of San Pablo, 2018 23rd St
20th St
Pine Ave
Chelsey Ave
11th St
11th St
21st St
Market Ave
Market Ave
19th St
19th St
Vale Rd
San Pablo Ave
San Pablo Ave
Willow Rd
Emeric Ave
Stanton Ave
14th St
Amador St
Sutter Ave
Church Ln
Church Ln
San Pablo Dam Rd
Brookside Dr
Dover Ave
12th St
Rumrill Blvd
Rumrill Rd
13th St
Broadway Ave
18th St
17th St
Rivers St
15th St
Sanford Ave
Bush Ave
Lake St
John Ave
Stanton Ave
22nd St
California Ave
Sanford Ave
El Portal Dr
Palmer Ave
Tyler St
N Arlington Blvd
Marin Ave
Espanola Dr
Wilcox Ave
Manor Dr
Alpine Rd
Powell St
Alfreda Blvd
Road 20
Abella Circle
Kelley Ave
Van Ness St
Mason St
Kirk Ln
Stone St
Folsom Ave
Mission Ave
Glenn Ave
Del Camino Dr
Trenton Blvd
Westgate Circle
Morrow Dr
16th St
Manchester Ave
Pullman St
Clare St
MacArthu Ave Merritt Ave
Castro Rd
Post Ave
Colin St
Ventura Ave
Ohare Ave
Joel Ct
Mission Bell Dr
Mission Bell Dr
Gerald Ave
Montoya Ave
Lovegrove St
Regella Ct
Laurie Ln
Padua St
Pablo Vista Ave
Mesa Buena Ave
Moraga St
Casino Ave
Acapulco Dr
Douglas St
Regina Ave
Wyman St
Marelia St
Contra Costa Ave
Valencia Way
Victoria Ct
Madrone Way
Shasta Ave Shasta Ave
Miner Ave
Wanlass Ave
Stonington Ave
Connecticut Ave
Barbara Ln
Randy Ln
Alan Ct
Frieda Ct
Baker St
Dodson St
Vale Rd
Sheffield Ct
Murra Ct
Muir St
Brookhaven Ct
20th St
Road 20
Road 20
22nd St
19th St
23rd St
14th St
18th St
17th St
Ridge Rd
22nd St
18th St
18th St
17th St Merritt Ave
Post Ave
Sutter Ave
Villa Dr
Brookside Ave
21st St
Riverside Ave
Bush Ave
Glenn Ave
Rumrill Blvd
16th St
Lake St
Humboldt Ave
19th St
21st St
15th St
19th St
Yuba Ave
15th St
16th St
17th St
Rumrill Blvd
Fillmore St
20th St
San Pablo Ave
San Pablo Ave
Stanton Ave
Manzanilla Dr Crucero Ave
El Portal Dr
San Pablo Dam Rd.

Dover Ave
Chattleton Ln
Luna Ln
Bayview School
Lake School
John Herbert Davis Park
Dover School
Rumrill
Sports
Park
Downer
School
Salesian
Sports
Fields
St. Joseph’s Cemetary
Helms Junior High School
Contra Costa
Junior College Middle College
High School
St. Paul’s
Church and School
xvii
xvii

INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and City Council
City of San Pablo, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the discretely presented component unit, each major fund, and the aggregate remain ing fund information of the City of San Pablo (City), California, as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the Table of Contents.

In our opinion, the financial statements
referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City as of June 30, 2023, and the respective changes in financial position and the General Fund budgetary comparison as part of the basic financial statements for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United Stat es. Our responsibilities under those st andards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirement relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair pr esentation of these financial statements in accordance with accounting principles generally accepted in th e United States of America, and for the design, implementation, and maintenance of internal control rele vant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is requi red to evaluate whether ther e are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
1 Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standa rds will always detect a material misstatement when it exists. The risk of not detecting a material misstatemen t resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are consid ered material if there is a substantial likelihood that, individually or in the aggregate, they would influen ce the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

 Exercise professional judgment and maintain professional skepticism throughout the audit.

 Identify and assess the risks of materi al misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures res ponsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis and other required supplemen tary information as listed in the Table of Contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical cont ext. We have applied cert ain limited procedures to the required supplementary information in accordance with auditing standards genera lly accepted in the United States of Am erica, which consisted of inquiries of management about the met hods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited proc edures do not provide us with sufficient evidence to express an opinion or provide any assurance.

2 Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying S upplementary Information, as listed in the Table of Contents, is presented for purposes of additional analysis and is not a required part of the basic financial statements.

Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basi c financial statements and ce rtain additional procedures, including comparing and reconciling such information dire ctly to the underlying accounting and other records used to prepare the basic financial statements or to the ba sic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the Un ited States of America. In our opinion, the Supplementary Information is fairly stated, in all material respec ts, in relation to the basic financial statements as a whole.

Other Information
Management is responsible for the other information included in the annual report. The other information comprises he Introductory Section and Statistical Section listed in the Table of Contents but does not include the basic financial statements and our auditor’s report th ereon. Our opinions on the basic financ ial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the wo rk performed, we conclude that an uncorrected material misstatement
of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards , we have also issued our re port dated December 12, 2023, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and gr ant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit pe rformed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Pleasant Hill, California
December 12, 2023
3 City of San Pablo Management Discussion and Analysis

City Hal
l: 1000 Gateway Ave., San Pablo, California 94806
Phone: (510) 215-3020 ~ Fax: (510) 215-3012
City of San Pablo (City) management offers readers an overview and analysis of the City’s financial activities for the fiscal year ended June 30, 2023. This report has been prepared in accordance with standards established by the Governmental Accounting Standard Board (GASB). We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in the basic financial statements, which immediately follow this section.

FINANCIAL HIGHLIGHTS
The financial statements present information on the financial health of the City. Highlights for the year ended June 30, 2023, are noted as follows:
•
The City’s assets plus deferred outflows exceeded liabilities plus deferred inflows at the close of Fiscal Year (FY) 2023 with a net position of $183.0 million (Statement of Net Position, Page 14). Of this amount, $45.1 million is unrestricted and may be used to meet the City’s ongoing obligations to citizens and creditors. This is not, however, the same as an operating budget surplus. • As of the close of the current fiscal year, the City’s Governmental Funds reported a combined ending fund balance of $124.4 million (Governmental Funds – Balance Sheet, Page 18) consisting of the following components:
• At the close of the fiscal year, the General Fund reported total assets of $81.5 million and a total fund balance of $77.3 million (Governmental Funds – Balance Sheet, Page 18). This represents an increase in fund balance of $9.2 million, or 13.4% from the prior fiscal year.

OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements,
which consists of three parts: (1) Government-Wide Financial Statements, (2) Fund Financial Statements, and (3) Notes to the Basic Financial Statements. The financial statements presented herein include all of the activities of the City and its component units.

Government-Wide Financial Statements
The government-wide statements provide readers with a broad view of the City’s finances, using the economic resources measurement focus and accrual ba sis of accounting. These accounting methods are similar to those used by private-sector companies. All of the current year’s revenues and expenses are accounted for in the statement of activities regardless of when cash is received or paid. Additionally, certain interfund receivables, payables and interfund activity have been eliminated.

Assigned for future development projects $15,248,058
Committed for General Fund carry-over 1,440,600
Non
-spendable (includes prepaids, land held for redevelopment and loan) 61,742 Restricted by outside parties/obligations 53,265,545
U
nassigned (includes reserves) 54,370,610
T
otal Fund Balance at June 30, 2023 $124,386,555
5 City of San Pablo Management Discussion and Analysis

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
Fund Financial Statements
The fund financial statements provide readers with a dditional information about the City’s major funds, how services were financed in the short term and fund balances available for financing future projects.

Most of the City’s funds excluding the City’s General Fund have significant restrictions, commitments or other limitations which significantly affect the availability of their fund resources for future use.

Notes to the Financial Statements
These notes provide additional information that is essential to a full understanding of the data provided in the government-wide financial statements and fund financial statements.

In addition to the basic financial statements and acco mpanying notes, this report also presents certain Required Supplementary Information concerning the City’s progress in funding its obligation to provide pension and retiree health benefits to its employees. The combined statements for the non-major funds and custodial funds are presented immediately following the required supplementary information.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
The City’s Statements of Net Position are show n below for fiscal year 2022 and 2023, including descriptions of items included in the Statements:

Summary Statements of Net Position as of June 30, 2022 and 2023

FY 2021-22 FY 2022-23 % Change
Assets
Current Assets $133,877,181 $145,415,716 8.62%
Capital Assets 145,447,192 149,208,690 2.59% Total Assets 279,324,373 294,624,406 5.48% Deferred Outflow of Resources
Related to Pensions 11,489,215 24,961,977 117.26% Related to OPEB 4,776,019 3,342,292 -30.02% Total Deferred Outflow 16,265,234 28,304,269 74.02% Liabilities
Current Liabilities 7,806, 546 8,781,971 12.49% Long-term Liabilities 100,182,013 120,413,726 20.19% Total Liabilities 107,988,559 129,195,697 19.64% Deferred Inflow of Resources
Related to Pensions 24,724,184 5,514,256 -77.70% Related to OPEB 2,524,759 5,189,237 105.53% Total Deferred Inflow 27,248,943 10,703,493 -60.72% Net Position
Invested in Capital 110,624,020 113,417,146 2.52% Restricted 19,239,898 24,542,022 27.56% Unrestricted 30,488,187 45,070,317 47.83% Total Net Position $160,352,105 $183,029,485 14.14%
6 City of San Pablo Management Discussion and Analysis

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
• Current Assets
This includes unrestricted cash and investments and items such as receivables and prepaid items expected to be converted into cash within one year.
• Capital Assets
Included is the land held for development a nd capital assets consisting of land, buildings, improvements, infrastructure, vehicles and equipment. These items provide services to the community and are not available for future spending.
• Current Liabilities
Represents liabilities expected to be paid with cash within one year. • Long-Term Liabilities
This includes the outstanding obligations for the City, including the City’s long-term debt for pensions, OPEB, compensated absences, leases, claims outstanding and bonded debt. • Net Position Net investment in capital assets represents the City’s capital assets net of accumulated depreciation and related debt. The restricted portion is subject to externally imposed restrictions for activities such as capital projects, debt service, and community development and is not available for general operations. The unrestricted portion is available for general operations.

The Statement of Activities reflects the fact that the City’s net position increased by $22.7 million in the current fiscal year. The increase is attributed to the decrease in pension liabilities net of increase in deferred outflows of resources. The City’s Statements of Activities are shown below for fiscal year 2022 and 2023:

Summary Statements of Activities as of June 30, 2022 and 2023

Program Revenues: FY 2021-22 FY 2022-23 % Change
Charges for Services $3,551,123 $3,651,316 2.8%
Operating Grants and Contributions 6,883,452 6,910,861 0.4% Capital Grants and Contributions 7,428,316 9,804,818 32.0% Total Program Revenues 17,862,891 20,366,995 14.0%
General Revenues:

Property Taxes 2,750,176 3,210,634 16.7%
Sales Taxes 5,049,824 5,892,559 16.7%
Utility Taxes 2,864,920 3,053,827 6.6%
Transient Occupancy Taxes 569,390 552,757 -2.9%
Franchise Taxes 979,688 661,596 -32.5%
Payment in Lieu of Taxes 2,142,368 2,185,215 2.0%
Other Taxes 87,679 46,499 -47.0%
Motor Vehicle Taxes 3,126,924 3,378,602 8.0%
Casino Contract Revenues 29,966,698 30,558,431 2.0%
Use of Money and Property 262,365 3,933,938 1399.4%
Gain from Sale of Capital Assets 9,061 2,867,738 31549.2% Miscellaneous 4,934,341 420,865 -91.5%
Total General Revenues 52,743,434 56,762,661 7.6%
Total Revenues 70,606,325 77,129,656 9.2%
Expenses:

General Administration 16,172,199 18,311,064 13.2%
Community Recreation 2,478,905 2,239,499 -9.7%
Community Development 5,276,529 2,932,229 -44.4%
Community Housing 117,624 1,595,272 1256.2%
Public Works & Engineering 7,972,673 11,212,044 40.6%
Police 23,239,924 15,993,438 -31.2%
Interest on Long-term Debt 3,928,465 2,168,730 -44.8%
Total Expenses 59,186,319 54,452,276 -8.0%
Change in Net Position 11,420,006 22,677,380 98.6%
Net Position, Beginning of the Year 148,932,099 160,352,105 7.7% Net Position, End of the Year $160,352,105 $183,029,485 14.1% 7 City of San Pablo Management Discussion and Analysis

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
Revenues include charges for services, collected for services to the public such as recreational classes, grants and contributions, representing funding received from other governments and organizations for the purpose of financing the operating and capital costs of a special program.

Expenses include Administration and Non-Departmental, (including the City Council, City Manager, Human Resources, Housing, Information Technology, and City Attorney), Finance, Police, Public Works, Community Development, Parks and Recreation (including Youth Activities, Senior Services, and Paratransit).

FINANCIAL ANALYSIS OF THE CITY’S FUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Funds are accounting devices that th e City uses to keep track of specific sources of funding and spending for purposes. The fund financial statements focus on individual parts of the City government, reporting City operations in more detail than the government-wide statements.

The City’s governmental funds provide information on near-term inflows, outflows, and balances of spendable resources. The City’s governmental funds reported a combined fund balance on June 30, 2023, of $124.4 million, an increase of $8.9 million over the end of the previous fiscal year. (See Statement of Revenues Expenditures and Changes in Fund Balance Government Funds, Page 20). A summary of net changes by fund group is shown in the table below.

Summary of Net Changes to Fund Balance by Fund Group

General Fund is the chief operating fund of the City and the overall fund balance increased by $9.1 million or 13.4%. In FY 2022-23, General Fund received $2.2 million reimbursement for prior year costs from 2015A JPFA Lease Revenue Bonds, $3.7 million from ARPA funds, and $2.9 from the sale of the old City Hall.

The changes within the City’s other major funds include:
• A small increase in the fund balance for the Low and Moderate Income Housing Assets is due to loan repayments and interest earned during the fiscal year.
• Change in 2015A JPFA Lease Revenue Bonds fund balance is attributed to the $2.2 million reimbursement to the General Fund for prior year costs paid by the General Fund. • Other Governmental Funds reflect and increase in fund balance of $1.9 million, which is attributed to an increase in intergovernmental revenues.

Fund Balance General Fund
Low and
Moderate
Income
Housing
Assets
Public Works
Construction
2015A JPFA
Lease
Revenue
Bonds
2022 JPFA
Lease
Revenue
Bonds
Other
Governmental
Funds
Total
Governmental
Funds
Beginning Fund Balance $68,160,379 9,302,757 - $2,190,57 7 $29,749,257 $6,093,922 $115,496,892 Ending Fund Balance 77,279,119 9,407,749 - 61 29,712,707 7,986,919 124 ,386,555 Net Change $9,118,740 $104,992 $0 ($2,1 90,516) ($36,550) $1,892,997 $8,889,663 Percent Change 13.4% 1.1% -100.0% 0.0% 31.1% 7.7%
8 City of San Pablo Management Discussion and Analysis

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012

GENERAL FUND BUDGETARY HIGHLIGHTS
Over the course of the year, the City Council revised the City budget several times. These budget amendments fall into two categories: (1) Changes made at the midyear budget review for unanticipated revenues and costs; (2) increases in appropriations for projects or contracts as needed to manage and prevent budget overruns. After taking into account these adjustments, General Fund revenues were higher than the final budget by $5.4 million (10.0%), which is primarily attributable to the reimbursement from 2015A Lease Revenue Bonds, recognition of ARPA funds, and the gain from sale of the old City Hall.

General Fund expenses were lower than the final budget by $7.1 million (13.7%). This is due to the lower spending in capital expenditures, and lower spending in Parks and Recreation as planned activities recovered slower than anticipated.

For a more detailed description of budgetary changes and variances, please see the Budgetary Comparison Schedule for the General Fund, included within the Required Supplementary Information section of this report.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets
The capital assets of the City are those assets which are used in the performance of the City’s functions, inclusing infrastructure assets. At June 30, 2023, the City had invested $149.2 million (net of accumulated depreciation) in a broad range of capital assets, including equipment, vehicles, building, and park facilities.

This year’s major capital assets additions included:

• Rumrill Blvd Complete Street Project (0700) - $8,353,125, • San Pablo Avenue Bridge Replacement Project (0202) - $351,450, • HSIP at El Portal/Mission Bell and Church/Willow Project (0701) - $522,011, • Police Headquarters and Public Safety Training Center (0104) - $803,888.

Refer to Note 6 of this report for more detailed information regarding capital assets. The City has elected to use the depreciation method as allowed by GASB Statement No. 34 for eligible infrastructure reporting.

Debt Administration
On February 18, 2015, the City of San Pablo Joint Powers Financing Authority issued $4,255,000 and $11,555,000 in 2015 Lease Revenue Bonds, Series A and B. The proceeds of these bonds were used to finance certain capital improvement projects and property acquisitions for the City, including a library facility and upgrades to City Hall. On February 1, 2022, the outstanding balance of the 2015B Lease Revenue Bonds were refunded and defeased with the issuance of the 2022 Lease Revenue Bonds. As of the close of the current fiscal year, the outstanding balance of the 2015A Lease Revenue Bonds was $3,595,000.

On January 31, 2018, the City of San Pablo Joint Powers Financing Authority issued an additional $15,325,000 in 2018 Lease Revenue Bonds. The proceeds of these bonds were used to finance construction of a new City Hall. As of the close of the current fiscal year, the outstanding balance of the 2018 Lease Revenue Bonds was $14,590,000.
9 City of San Pablo Management Discussion and Analysis

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
On February 1, 2022, the City of San Pablo Joint Powers Financing Authority issued an additional $30,470,000 in 2022 Lease Revenue Bonds. The proceeds of these bonds were used to finance construction of the Police Headquarters and Public Safety Training Center Project and to refund and defease all of the outstanding Lease Revenue Bonds, Series 2015B. As of the close of the current fiscal year, the outstanding balance of the 2022 Lease Revenue Bonds was $30,350,000.

Refer to Note 7 of this report for detailed information regarding long term debt.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
The City annually prepares a financial plan, which fo cuses on the long-term financial viability and allows decision makers to understand the future impact of policy decisions made today. Multi-year planning provides both an early warning of adverse financial trends an d more time to implement changes to ensure better outcomes.

Budget development is guided by a series of policies adopted by the City Council, which guides long-term planning, minimum reserve levels, employee compensation, cash and de bt management. The City’s FY 2023/24 budget which includes the Capital Im provement Program budget can be found at https://sanpabloca.gov/407/City-Financial-Reports

The budget was based on these key assumptions:

• Casino Business Tax – Annual increases of 3%.
• Sales Tax (Bradley Burns and Measure Q/S) – Th e budget projection assumes continued modest growth during this recovery period from COVID-19 as well as offsetting increased cost of sales and possible decline in customer purchases related to inflation. • Property Tax In Lieu – This budget increases annually in proportion to the growth in gross assessed valuation in the City.
• Property Tax – Budgeted with minimal growth over 5 years. • Salaries and benefits were projected to increase based on negotiations with labor unions as well as increased staffing costs such as workers compensation insurance, health benefits and pension contributions.
• Increased general liability insurance for the City due to increasing rates in the insurance market.

Although the City has made considerable progress, unfunded liabilities will continue to present challenges to long-term financial solvency and service level solvency. As such the City is continued to applying financial strategies as outlined in our Unfunded Liability Management Policty to address this ougoing rish area.

Notes to the Financial Statements
The notes provide additional information that is necessary to acquire a full understanding of the data provided in the Government-wide and Fund Financial Statements. The Notes to the financial statements can be found on Pages 22-75 of this report.
10 City of San Pablo Management Discussion and Analysis

City Hall: 1000 Gateway Ave., San Pablo, California 94806 Phone: (510) 215-3020 ~ Fax: (510) 215-3012
CONTACTING THE CITY’S FINANCIAL MANAGEMENT
This Annual Comprehensive Financial Report (ACFR) is designed to provide a general overview of the City’s finances. This report can be obta ined at no cost from the City’s website at https://sanpabloca.gov/407/City-Financial-Reports. If you have questions about this report, or need any additional financial information, cont act the City’s Finance Department at https://sanpabloca.gov/2853/Public-Records-Request.
11 STATEMENT OF NET POSITION

AND STATEMENT OF ACTIVITIES

The Statement of Net Position and the Statement of Activities summarize the entire City’s financial activities and financial position. They are prepared on the same basis as is used by most businesses, which means they include all the City’s assets, all its deferred inflows/outflows of resources and all its liabilities, as well as all its revenues and expenses. This is known as the full accrual basis—the effect of all the City’s transactions is taken into account, regardless of whether or when cash changes hands, but all material internal transactions between City funds have been eliminated.

The Statement of Net Position reports the difference be tween the City’s total assets and deferred outflows of resources and the City’s total liabilities and deferred infl ows of resources, including all the City’s capital assets and all its long-term debt. The Statement of Net Position presents information in a way that focuses the reader on the composition of the City’s net position, by subtr acting total liabilities and deferred inflows of resources from total assets and deferred outflows of resources.

The Statement of Net Position summarizes the financial pos ition of all of the City’s Governmental Activities in a single column. The City’s Governmental Activities include the activities of its General Fund, along with all its Special Revenue, Capital Projects and Debt Service Funds that present the financial position of the primary government. This column is followed by a column th at displays the discretely presented component unit.

The Statement of Activities reports increase s and decreases in the City’s net pos ition. It is also prepared on the full accrual basis, which means it includes all the City’s revenues and all its expenses, regardless of when cash changes hands. This differs from the “modified accrua l” basis used in the Fund financial statements, which reflect only current assets, current liabilities, available revenues and measurable expenditures.

The Statement of Activities presents the City’s expenses first, listed by program. Program revenues—that is, revenues which are generated directly by these programs—are then deducted from program expenses to arrive at the net expense of each governmental program. The City’s general revenues are then listed in the Governmental Activities or discretely presented component unit and the Change in Net Position is computed and reconciled with the Statement of Net Position.

Both these Statements include the fi nancial activities of the City and the City of San Pablo Joint Powers Financing Authority. The balances and the activities of the discretely present component unit of the San Pablo Economic Development Corporation are included in these statements as separate columns.

13 CITY OF SAN PABLO

STATEMENT OF NET POSITION
JUNE 30, 2023
Primary Government Component Unit
Economic
Governmental Development
Activities Corporation
ASSETS
Cash and investments available for operations (Note 3) $91,324,288 $3,037,761 Restricted cash and investments (Note 3) 29,714,518
Accounts receivable, net 3,055,417 283,055
Due from other governments, net 5,609,812
Interest receivable 507,766
Prepaids and deposits (Note 1H) 58,816 10,200
Net OPEB Asset (Note 10C) 1,024,527
Employee loans receivable (Note 5A) 2,926
Loan receivable (Note 5B) 300,000
Notes receivable under former Redevelopment
Agency programs, net (Note 5C) 13,817,646
Capital assets (Note 6):

Land and construction in progress 29,839,548
Depreciable capital assets, net 119,369,142 1,308,161
Total Assets 294,624,406 4,639,177

DEFERRED OUTFLOWS OF RESOURCES
Related to pensions (Note 9B) 24,961,977
Related to OPEB (Note 10E) 3,342,292
Total Deferred Outflows of Resources 28,304,269

LIABILITIES
Accounts payable and accrued liabilities 5,245,965 547,101 Deposits payable 641,023 24,293
Claims payable, due within one year (Note 12) 102,669
Compensated absences (Note 1G):

Due within one year 1,834,411
Due in more than one year 637,695
Long-term debt (Note 7):

Due within one year 865,000
Due in more than one year 51,074,377 1,300,000
Net pension liability, due in more than one year (Note 9B) 55,227,933 Lease liability (Note 15)
Due within one year 92,903
Due in more than one year 13,473,721
Total Liabilities 129,195,697 1,871,394

DEFERRED INFLOWS OF RESOURCES
Related to pensions (Note 9B) 5,514,256
Related to OPEB (Note 10E) 5,189,237
Total Deferred Inflows of Resources 10,703,493
NET POSITION (Note 8)
Net investment in capital assets 113,417,146 8,161
Restricted for:

Capital projects 7,819,256
Low and moderate income housing 15,698,239
Other Post-Employment Benefits 1,024,527
Economic development projects 2,759,622
Total restricted net position 24,542,022 2,759,622
Unrestricted net position 45,070,317
Total Net Position $183,029,485 $2,767,783
See accompanying notes to financial statements
14 CITY OF SAN PABLO

STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2023
Net (Expense) Net (Expense)
Revenue and Revenue and
Changes in Changes in
in Net Position in Net Position
Program Revenues Primary Government Component Unit
Operating Economic
Charges for Grants and Capital Governmental Development Functions/Programs Expenses Services Contributions Grants Activities Corporation Primary Government:

Governmental Activities:

General Government $18,311,064 $242,439 $60,544 ($18,008,081) Community:

Recreation 2,239,499 46,059 (2,193,440)
Development 2,932,229 1,674,951 8,188 $393,986 (855,104) Housing 1,595,272 720,939 (874,333)
Public Works & Engineering 11,212,044 902,750 1,551,836 9,410,832 653,374 Police 15,993,438 785,117 4,569,354 (10,638,967)
Interest on long-term debt 2,168,730 (2,168,730)
Total Governmental Activities $54,452,276 $3,651,316 $6,910,861 $9,804,818 (34,085,281) Component Unit:

Economic Development Corporation $1,675,115 $55,461 $1,703,430 $83,776 General Revenues:

Taxes:

Property taxes 3,210,634
Sales taxes 5,892,559
Utility taxes 3,053,827
Transient occupancy taxes 552,757
Franchise taxes 661,596
Payment in lieu of taxes 2,185,215
Casino contract revenues 30,558,431
Other taxes 46,499
Intergovernmental unrestricted:

Motor vehicle in lieu fees 3,378,602
Use of money and property 3,933,938
Gain from sale of capital assets 2,867,738
Other revenue 210,845
Miscellaneous 420,865
Total General Revenues 56,762,661 210,845
Change in Net Position 22,677,380 294,621
Net Position - Beginning 160,352,105 2,473,162
Net Position - Ending $183,029,485 $2,767,783
See accompanying notes to financial statements
15 FUND FINANCIAL STATEMENTS

Major funds are defined generally as having significant activities or balances in the current year.

The funds described below were determined to be Majo r Funds by the City for fiscal 2023. Individual non- major funds may be found in the Supplemental Section.

GENERAL FUND

The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. The major revenue sources for this Fund are property taxes, sales taxes, utility users tax, franchise fees, business licenses, unrest ricted revenues from the State, fines and forfeitures and interest income. Ex penditures are made for public safety , recreation, and the other services described above.

LOW AND MODERATE INCOME HOUSING ASSETS

This fund accounts for the activities related to the housing assets assumed by the City as Housing Successor to the former Redevelopment Agency. The activities are governed by California redevelopment law and all revenues from the collection of loan repayments must be used to provide housing for people with low and moderate incomes.

PUBLIC WORKS CONSTRUCTION

This fund accounts for major City capital improvement projects.

2015 JPFA LEASE REVENUE BONDS

This fund accounts for capital improvement projects funded by the proceeds of the 2015 Lease Revenue Bonds.

2022 JPFA LEASE REVENUE BONDS

This fund accounts for capital improvement projects funded by the proceeds of the 2022 Lease Revenue Bonds.

17 GOVERNMENTAL FUNDS

BALANCE SHEET
JUNE 30, 2023
Low and
Moderate 2015 2022 Othe r Total
Income Public Works JPFA Lease JPFA Lease Governmental Governmental General Housing Assets Construction Revenue Bonds Revenue Bonds Funds Funds ASSETS
Cash and investments available for operations (Note 3) $74,077,502 $9,408,979 $7,837,807 $91,324,288 Restricted cash and investments (Note 3) $61 $29,714,457 29,714,518 Accounts receivable 3,050,200 $5,217 3,055,417
Due from other governments 1,053,438 3,339,517 1,216,857 5,609,812 Interest receivable 507,766 507,766
Due from other funds (Note 4A) 2,427,534 2,427,534
Prepaids and deposits (Note 1H) 58,816 58,816
Employee loans receivable (Note 5A) 2,926 2,926
Loan receivable (Note 5B) 300,000 300,000
Redevelopment Agency program loans, net (Note 5C) 13,817,646 13,817,646 Total Assets $81,478,182 $23,226,625 $3,344,734 $61 $29,714,457 $9,054,664 $146,818,723

LIABILITIES
Accounts payable and accrued liabilities $3,521,655 $1,230 $998,025 $1,750 $723,305 $5,245,965 Due to other funds (Note 4A) 2,346,709 80,825 2,427,534 Deposits payable 377,408 263,615 641,023
Total Liabilities 3,899,063 1,230 3,344,734 1,750 1,067,745 8,314,522

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - loans and notes receivable 300,000 13,817,646 14,117,646 Total Deferred Inflows of Resources 300,000 13,817,646 14,117,646

FUND BALANCES
Fund balance (Note 8):

Nonspendable 61,742 61,742
Restricte
d 6,156,109 9,407,749 $61 29,712,707 7,988,919 53,265,545 Committed 1,440,600 1,440,600
Assigned 15,248,058 15,248,058
Unassigned 54,372,610 (2,000) 54,370,610
Total Fund Balances 77,279,119 9,407,749 61 29,712,707 7,986,919 124,386,555 Total Liabilities, Deferred Inflows of Resources
and Fund Balances $81,478,182 $23,226,625 $3,344,734 $61 $29,714,457 $9,054,664 $146,818,723 See accompanying notes to financial statements

CITY OF SAN PABLO
18 CITY OF SAN PABLO
Reconciliation of the

GOVERNMENTAL FUNDS BALANCE SHEET
with the

STATEMENT OF NET POSITION
JUNE 30, 2023
FUND BALANCE - TOTAL GOVERNMENTAL FUNDS $124,386,555
Amounts reported for Governmental Activities in the Statement of Net Position are different from those reported in the Governmental Funds because of the following:

CAPITAL ASSETS TRANSACTIONS
Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not reported in the Governmental funds. 149,208,690

NON-CURRENT REVENUES
Revenues which are unavailable on the Fund Balance Sheets because they are not available currently are taken into revenue in the Statement of Activities. 14,117,646

LONG TERM ASSETS, LIABILITIES AND DEFERRED OUTFLOWS/INFLOWS OF RESOURCES The assets, deferred outflows of resources, liabilities and deferred inflows of resources below are not due and payable in the current period and therefore are not reported in the Funds:

Deferred outflows of resources related to pensions 24,961,977 Deferred outflows of resources related to OPEB 3,342,292 Claims payable (102,669)
Compensated absences (2,472,106)
Long-term debt (51,939,377)
Net pension liability (55,227,933)
Net OPEB asset 1,024,527
Lease liability (13,566,624)
Deferred inflows of resources related to pensions (5,514,256) Deferred inflows of resources related to OPEB (5,189,237) NET POSITION OF GOVERNMENTAL ACTIVITIES $183,029,485
See accompanying notes to financial statements
19 CITY OF SAN PABLO

GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2023
Low and
Moderate 2015 2022 Other Total
Income Public Works JPFA Lease JPFA Lease Governmental Governmental General Housing Assets Construction Revenue Bonds Revenue Bonds Funds Funds

REVENUES
Property taxes $1,728,466 $839,107 $2,567,573
Sales taxes 4,695,042 1,776,157 6,471,199
Utility users tax 3,053,827 3,053,827
Casino contract revenues 30,144,568 30,144,568
Other taxes 3,446,067 3,446,067
Licenses and permits 383,863 383,863
Fines and forfeits 270,439 270,439
Intergovernmental 10,043,471 $8,234,023 2,762,342 21,039,836 Charges for services 587,672 1,291,550 1,879,222
Use of money and property 1,727,740 $700,264 (2,100) $69,626 $898,541 138,982 3,533,053 Miscellaneous 2,947,966 121,078 3,069,044
Total Revenues 58,645,258 700,264 8,231,923 69,626 898,541 7,313,079 75,858,691

EXPENDITURES
Current:

General Governmen
t 16,260,706 1,709,614 17,970,320
Community:

Recreation 2,580,077 2,580,077
Development 2,091,548 2,091,548
Housing 1,595,272 1,595,272
Public Works & Engineering 1,773,820 3,435,684 5,209,504 Police 22,097,115 30,324 22,127,439
Capital outlay 761,131 11,181,633 81,811 12,024,575
Debt service:

Principal retiremen
t 707,459 120,000 255,000 1,082,459
Interest and fiscal charges 412,529 137,169 1,183,348 554,788 2,287,834 Total Expenditures 44,592,837 1,595,272 11,181 ,633 137,169 1,303,348 8,158,769 66,969,028

EXCESS OF REVENUES
OVER (UNDER) EXPENDITURES 14,052,421 (895,008) (2 ,949,710) (67,543) (404,807) (845,690) 8,889,663

OTHER FINANCING SOURCES (USES)
Transfers in (Note 4B) 2,834,784 1,000,000 2 ,955,318 137,077 1,301,339 3,344,702 11,573,220 Transfers (out) (Note 4B) (7,768,465) (5,608) (2,260,050) (933,082) (606,015) (11,573,220) Total Other Financing Sources (Uses) (4,933,681) 1,000,000 2,949,710 (2,122,973) 368,257 2,738,687 NET CHANGE IN FUND BALANCES 9,118,740 104,992 (2,190,516) (36,550) 1,892,997 8,889,663 Fund balances at beginning of period 68,160,379 9,302,757 2,190,577 29,749,257 6,093,922 115,496,892 FUND BALANCES AT END OF PERIOD $77,279,119 $9,407,749 $61 $29,712,707 $7,986,919 $124,386,555 See accompanying notes to financial statements
20 CITY OF SAN PABLO
Reconciliation of the

NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS
with the

STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2023
Revenues, Expenditures and Changes in Fund Balance, which measures only changes in current assets and current liabilities on the modified accrual basis, with the Change in Net Position of Governmental Activities reported in the Statement of Activities, which is
prepared on the full accrual basis.

NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $8,889,663 Amounts reported for governmental activities in the Statement of Activities are different because of the following:

CAPITAL ASSETS TRANSACTIONS
Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.

Capital outlay and improvement expenditures are added back to fund balance 10,584,430 Depreciation expense is deducted from fund balance (5,527,043) Retirements are deducted from the fund balance (1,295,889)

LONG-TERM DEBT PROCEEDS AND PAYMENTS
Debt and lease proceeds provide current financial resources to governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Position.

Repayment of debt and lease principal is an expenditure in the governmental funds, but in the Statement of Net Position the repayment reduces long-term liabilities Repayment of debt, lease principal, and bond premium amortization is added back to fund balance 1,201,563

NON-CURRENT ITEMS
The amounts below included in the Statement of Activities do not provide or (require) the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):

Compensated absences (352,412)
Claims payable (36,246)
Unavailable revenue - loans and notes receivable 1,270,965 Net pension liability and deferred outflows/inflows of resources related to pensions 7,790,235 Net OPEB asset and deferred outflows/inflows of resources related to OPEB 152,114 CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $22,677,380 See accom
panying notes to financial statements
21 CITY OF SAN PABLO

GENERAL FUND

STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2023
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual (Negative)

REVENUES
Property taxes $1,071,103 $1,071,103 $1,728,466 $657,363 Sales taxes 4,670,696 4,670,696 4,695,042 24,346
Utility users tax 2,645,000 2,645,000 3,053,827 408,827 Casino contract revenues 30,500,000 30,500,000 30,144,568 (355,432) Other taxes 1,780,000 3,965,215 3,446,067 (519,148)
Fines and forfeits 397,250 295,000 270,439 (24,561)
Intergovernmental:

Motor vehicle in lieu 3,254,890 3,254,890 3,378,602 123,712 Other 2,435,215 5,078,215 6,664,869 1,586,654
Charges for services 588,474 501,119 587,672 86,553
Use of money and property 1,174,600 1,174,600 1,727,740 553,140 Miscellaneous 1,069,232 137,355 2,947,966 2,810,611
Total Revenues 49,586,460 53,293,193 58,645,258 5,352,065

EXPENDITURES
Current:

General Government 13,228,284 17,744,457 16,260,706 1,483,751 Community:

Recreation 3,779,510 4,181,798 2,580,077 1,601,721
Public Works & Engineering 650,990 1,978,622 1,773,820 204,802 Police 21,530,787 21,941,891 22,097,115 (155,224)
Capital outlay 137,700 5,768,573 761,131 5,007,442
Debt Service:

Principal 79,080 79,080 707,459 (628,379)
Interest and fiscal charges 6,784 6,784 412,529 (405,745) Total Expenditures 39,413,135 51,701,205 44,592,837 7,108,368

EXCESS OF REVENUES
OVER EXPENDITURES 10,173,325 1,591,988 14,052,421 12,460,433

OTHER FINANCING SOURCES (USES)
Transfers in 542,000 542,000 2,834,784 2,292,784
Transfers (out) (6,023,049) (6,323,049) (7,768,465) (1,445,416) Total Other Financing Sources (Uses) (5,481,049) (5,781,049) (4,933,681) 847,368 NET CHANGE IN FUND BALANCE $4,692,276 ($4,189,061) 9,118,740 $13,307,801 Fund balance at beginning of year 68,160,379
FUND BALANCE AT END OF YEAR $77,279,119
See accompanying notes to financial statements
22 FIDUCIARY FUNDS

FIDUCIARY FUNDS

These funds are used to account for assets held by the City as an agent for individuals, private organizations, and other governments. The financial activities of these funds are excluded from the City-wide financial statements, but are presented in separate Fiduciary Fund financial statements.

RETIREE HEALTH SAVINGS PLAN TRUST FUND

The Fund is used to account for the medical and dental benefits for former employees of the City.

SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY

The Fund is used to account for the activities of the Su ccessor Agency to the former Redevelopment Agency of the City of San Pablo.

CUSTODIAL FUNDS

Custodial Funds accounts for assets held by the City as an agent for individuals, governmental entities and non- public organizations.

23 CITY OF SAN PABLO

FIDUCIARY FUNDS

STATEMENTS OF FIDUCIARY NET POSITION
JUNE 30, 2023
Successor Agency
Retiree Health to the
Savings Plan Redevelo pment Agency Custodial
Trust Fund Private-Pur pose Trust Funds
ASSETS
Cash and investments (Note 3) $92,666
Restricted cash and investments (Note 3):

Pooled with City cash and investments 1,107,022 $13,272,958 Mutual fund $13,073,919
Accounts receivable 97,488
Loans receivable (Note 13B) 1,939,701
Property held for resale (Note 13C) 4,626,151
Capital assets (Note 13D):

Land and land improvements 2,819,393
Depreciable capital assets, net 827,524
Total Assets 13,073,919 11,412,457 13,370,446

DEFERRED OUTFLOW OF RESOURCES
Deferred amount on refunding of debt (Note 13E) 2,181,973

LIABILITIES
Accounts payable 279,820 4,171
Unearned revenue 40,001
Deposits payable 10,114
Long-term obligations (Note 13E):

Due in one year 3,855,000
Due in more than one year 30,510,125
Total Liabilities 34,644,945 54,286
NET POSITION (DEFICIT):

Held in trust and restricted for OPEB 13,073,919
Restricted for other governments (21,050,515) 12,484,504 Held for other organizations 831,656
Total Net Position $13,073,919 ($21,050,515) $13,316,160 See accompanying notes to financial statements
24 CITY OF SAN PABLO

STATEMENTS OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED JUNE 30, 2023
Successor Agency
Retiree Health to the
Savings Plan Redevelo pment Agency Custodial
Trust Fund Private-Pur pose Trust Funds

ADDITIONS
Property taxes $6,487,022
Employer contributions $575,884
Bingo revenues $162,940
Member contributions 556,329
Grants and contributions 5,034,810
Charges for services 566,751
Net investment income 1,513,955 184,341 176,317
Total Additions 2,089,839 6,671,363 6,497,147

DEDUCTIONS
Premiums paid 575,884
Community development 229,488
Personnel-related 1,382,440
Professional services 534,900
Program-related 973,973
Transfer to WCCIWMA 2,348,065
Depreciation (Note 13D) 65,844
Debt service:

Interest and fiscal charges 1,498,726
Total Deductions 575,884 1,794,058 5,239,378
Change in Net Position 1,513,955 4,877,305 1,257,769
NET POSITION:

Beginning of year 11,559,964 (25,927,820) 12,058,391
End of year $13,073,919 ($21,050,515) $13,316,160
See accompanying notes to financial statements
25 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES

A. Reporting Entity

The City of San Pablo (City) was incorporated as a general law city on April 27, 1948. San Pablo is a community of approximately 29,465 re sidents situated in Contra Cost a County on the east side of San Francisco Bay. San Pablo is loca ted approximately 17 miles east of the City of San Francisco and 12 miles north of the City of Oakland and is surrounded by the City of Richmond. The City operates under the Council-Manager form of government and provid es the following services: public safety, highways and streets, recreation, public improvements, planning and zoning and general administration services.

The City is governed by a five member council electe d by City residents. The City is legally separate and fiscally independent which means it can issue debt, set and m odify budgets and fees and sue or be sued. The accompanying basic financial statements include the financial activities of the City as well as separate legal entities which are described below.

The accompanying basic financial stat ements present the financial activity of the City, which is the primary government presented, along with the financ ial activities of its com ponent units, which are entities for which the City is financially accountable. Although they are separate legal entities, blended component units are in substance part of the City’s operations and are reported as an integral part of the City’s financial statements. Each discretely presented component unit, on the other hand, is reported in a separate column in the basic financial statements to emphasize it is legally separate from the government.

PRIMARY GOVERNMENT

The financial statements of the primary government of the City of San Pablo include the activities of the City as well as the City of San Pablo Joint Powe rs Financing Authority, which is controlled by and dependent on the City. While it is a separate legal entity, its financial activities are integral to those of the City. The financial activities have been aggregated and merged (termed “blended”) with those of the primary government of the City in the accompanying financial statements.

Blended Component Units

The City of San Pablo Joint Powers Financing Authority (Authority) is a separate governmental entity whose purpose is to assist in the financing and refinancing of certain redevelopment activities of the former Redevelopment Agency and certain programs and projects of the City. The Authority is administered by a Governing Board whose members are the City Council of the City of San Pablo. The Authority does not issue separate financial statements.

The City of San Pablo Retiree Health Savings Plan is governed by the City’s Resolution 2007-024 and is used to account for contributions and investment income restricted to pay medical and dental benefits.

Benefit and contribution provisions are established by the City Council. Eligibility, actuarial interest rates, administration and certain other tasks ar e the responsibility of the Council established by the above Resolution. The financial activities of the Plan have been included in these financial statements in the Retiree Health Savings Plan Trust Fund. Th e Plan does not issue separate financial statements.

27 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)

DISCRETELY PRESENTED COMPONENT UNIT

The San Pablo Economic Development Corporation (EDC) is a California nonprofit public benefit Corporation formed in February 2011 by the City and the former Redevelopment Agency under the laws of the State of California. The Corporation was organized for the purpose of providing physical, economic and educational de velopment, redevelopment, and revita lization efforts within the City.

The Corporation entered into a Service Agreement with the City under which the Corporation will perform requested services on an independent contract or basis to eliminate blight, provide affordable housing, improve the public realm, facilitate public and private developmen ts, stimulate economic development, and create jobs. The Corporatio n was controlled by the City and had the same governing body as the City, which also performs a ll accounting and administrative functions for the Corporation. The Corporation was governed by a board of directors consisting of the members of the City Council.

In May 2012 the City Council, serving in its capac ity as the governing board of the Corporation, adopted a resolution approving modifications to the governing board. Effective May 16, 2012, the governing board of the Corporation consists of two Councilmembers and three members of the community, however, for the period May 16, 2012 through September 1, 2012, the Corporation’s operations remained financially integrated with those of the City and City staff continued to provide accounting, administrative and managerial services for the Corporation. As a result of this financial integration, the Corporation continued to be re ported as a component unit of the City through September 1, 2012, and the financial activities of th e Corporation were previously reported in the Economic Development Special Revenue Fund through that date.

Effective September 1, 2012, the City transferre d assets and liabilities of the Corporation to the Corporation’s own administrative staff, and all accoun ting and managerial functions of the Corporation are now performed by its own staff. The City continues to provide the primary funding for the activities of the Corporation, therefore, the financial activities of the Corporation are discretely presented in the Economic Development Corporation Component Unit co lumn of the Statement of Net Position and the Statement of Activities. Separate financial st atements for the Corporation may be obtained by contacting the San Pablo Economic Development Corporation, 1000 Gateway Avenue, San Pablo, CA 94806.

B. Basis of Presentation

The City’s Basic Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Government Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting standards followed by governmental entities in the United States.

These Standards require that the financial statements described below be presented.

Government-wide Statements: The Statement of Net Position and the Statement of Activities display information about the primary government (the City) and its blended and discretely presented component units. These statements include the financial activities of the overall City government, except for fiduciary activities. Eliminations have be en made to minimize the double counting of internal activities.

Governmental activities generally are financed through taxes, in tergovernmental revenues, and other nonexchange transactions.
28 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the City’s governmental activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function.

Program revenues include (a) charges paid by the recipients of goods or services offered by the programs, (b) grants and contributions that are restricted to meeting the operational needs of a particular program and (c) capital grants and contributions, all of whic h are capital grants under California law. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.

Fund Financial Statements: The fund financial statements provide information about the City's funds, including fiduciary funds and blended component units. Separate statements for each fund category— governmental and fiduciary —are presented. The emphasis of fund financial statemen ts is on major individual governmental funds, each of which is displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds.

C. Major Funds

Major funds are defined as governmental funds whic h have either assets and deferred outflows of resources, liabilities and deferred inflows of resources, revenues or ex penditures equal to ten percent of their fund-type total and five percent of the grand total. The General Fund is always a major fund. The City may select other governmental funds it believes should be presented as major funds.

The City reported the following major governmental funds in the accompanying financial statements:

General Fund
– This is the City’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

Low and Moderate Income Housing Assets – This fund accounts for the activities related to the housing assets assumed by the City as Housing Successor to the former Redevelopment Agency. The activities are governed by California redevelopment law and all revenues from the collection of loan repayments must be used to provide housing for people with low and moderate incomes.

Public Works Construction – This fund accounts for major City capital improvement projects.

2015 JPFA Lease Revenue Bonds – This fund accounts for capital improvement projects funded by the proceeds of the 2015 Lease Revenue Bonds.

2022 JPFA Lease Revenue Bonds – This fund accounts for capital improvement projects funded by the proceeds of the 2022 Lease Revenue Bonds.

The City also reports the following fiduciary fund types:

Trust Funds. These funds account for assets held by the City as an agent for various functions. The Retiree Health Savings Plan Trust Fund accounts for the accumulation of resources to be used for retiree medical and dental benefit paymen ts at appropriate amounts and times in the future. The Successor Agency to the Redevelopment Agency Private-Pu rpose Trust Fund accounts for the accumulation of resources to be used for payments at appropriate amounts and times in the future. The financial activities of the funds are excluded from the Government-wide financial statements, but are presented in the separate Fiduciary Fund financial statements.
29 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)

Custodial Funds. These funds report resources, not in a Trust, that are held by the City for other parties outside of the City’s reporting entity, which incl ude West Contra Costa Transportation Advisory Committee, West Contra Costa Integrated Waste Management Authority, and community organizations.

D. Basis of Accounting

The City-wide and fiduciary fund financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.

Governmental funds are reported using the current financial resources measurement focus and governmental and agency funds are reported using modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available . The City considers all revenues reported in the governmental funds to be available if the revenues are collected within forty-five days after year-end. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt and compensated absences, which are recognized as expenditures when they are paid. Genera l capital asset acquisitions are reported as expenditures in governmental funds. Proceeds from general long-term debt and leases are reported as other financing sources.

Those revenues susceptible to accrual include taxes, intergovernmental revenues, interest and charges for services.

Grant revenues are recognized in the fiscal year in which all eligibility requirements are met. Under the terms of grant agreements, the City may fund certain programs with a combination of cost- reimbursement grants, categorical block grants, and general revenues. Thus, both restricted and unrestricted net position may be available to finance pr ogram expenditures. The City’s policy is to first apply restricted grant resources to such programs, followed by general revenues if necessary.

Certain indirect costs are included in program expenses reported for individual functions and activities.

Non-exchange transactions, in which the City give s or receives value without directly receiving or giving equal value in exchange, include property taxes, grants, entitlements, and donations.

Revenue from grants, entitlements, and donations is r ecognized in the fiscal year in which all eligibility requirements have been satisfied.

E. Deferred Outflows/Inflows of Resources

In addition to assets, the statement of net position and balance sheet sometimes reports a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/ expe nditure) until then. The City only has one item that qualifies for reporting in this category related to pensions and OPEB as discussed in Note 9 and 10. 30 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)

In addition to liabilities, the statement of net pos ition and governmental funds balance sheet report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (reve nue) until that time. The City has one item that qualifies for reporting in this category, unavailable revenue, which arises only under a modified accrual basis of accounting. Accordingly, unavailable revenue is reported only in the governmental funds balance sheet. The governmental funds report unava ilable revenues related to amounts due from other governments, and loans and notes receivable. The City also has deferred inflows of resources related to pensions and OPEB on the statement of net positio n as discussed in Note 9 and 10. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available.

F. Property Tax

Property tax revenue is recognized in the fiscal year for which the tax and assessment is levied. The County of Contra Costa levies, bill s and collects property taxes and special assessments for the City; under the County’s “Teeter Plan” the County remits the entire amount levied and handles all delinquencies, retaining interest and penalties. Se cured and unsecured property taxes are levied on January 1.

Secured property tax is due in two installments, on November 1 and February 1, becomes a lien on those dates and becomes delinquent on December 10 and April 10, respectively. Unsecured property tax is due on July 1, and becomes delinquent on August 31.

The term “unsecured” refers to taxes on personal property other than real es tate, land and buildings.

These taxes are secured by liens on the property being taxed. Property tax revenues are recognized by the City in the fiscal year they are assessed.

G. Compensated Absences

Compensated absences comprise unpaid vacation and certain compensated time off, which are accrued as earned. For all governmental funds, amounts expected to be paid out for permanent liquidation are recorded as fund liabilities, the long-term portion is recorded in the statement of net position. The liability for compensated absences is determined annually; the net increase in the liability was $352,412 at June 30, 2023 and was allocated to the General Government, Community Development, Public Works, Engineering, Police and Community Recreation departments on the statement of activities. Sick pay does not vest and therefore is not accrued. The change in compensated absences was as follows:

Beginning Balance $2,119,694
Additions 2,157,890
Payments (1,805,478)
Ending Balance $2,472,106
Due in One Year $1,834,411

The long-term portion of governmental activities compensated absences is liquidated primarily by the General Fund.

31 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)

H. Prepaids and Deposits

Certain payments to vendors reflect costs applicable to future fiscal years and are recorded as prepaid items in both government-wide and fund financial statements. The cost of prepai d items is recorded as expenditures/expenses when consumed, rather than when purchased. At June 30, 2023, the General Fund and the Economic Development Corporati on had prepaid items of $58,816 and $10,200, respectively.

Prepaid items and deposits in governmental funds are equally o ffset by nonspendable fund balance which indicates that they do not constitute availa ble spendable resources even though they are a component of net current assets.

I. Property Held for Resale

Land parcels held for resale are accounted for at the lower of cost or net realizable value or agreed upon sales price if a disposition agreement has been made with a developer.

J. Estimates and Assumptions

The preparation of financia l statements in conformity with gene rally accepted accounting principles (GAAP) requires management to make estimates and assumptions th at affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

K. Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at th e measurement date. The City categorizes its fair value measurements within the fair value hierar chy established by genera lly accepted accounting principles. The fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market shown below:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 inputs are inputs – other than quoted prices included within level 1 – that are observable for an asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for an asset or liability.

If the fair value of an asset or liability is measured using inputs from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to the entire measurement.

32 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023
NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES (Continued)
L. Leases
A lease is defined as a contract that conveys contro l of the right to use anothe r entity’s nonfinancial asset (the underlying asset) as specified in the contract for a period of time in an exchange or exchange- like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment.

Lessee – The City is a lessee for noncancellable leases of a building. The City recognizes a lease liability and an intangible right‐to ‐use lease asset (lease asset) in the government ‐wide financial statements. The City recognizes lease liabilities with an initial individual value of $25,000 or more.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease te rm. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. Subsequently , the lease asset is amortized on a straight‐line basis over the lesser of its useful life or the life of the lease agreement.

Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments as follows:
 The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
 The lease term includes the noncancellable period of the lease.  Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise, if applicable.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.

Lease assets are reported with other capital assets and lease liabilities are reported with long-term lease liabilities on the statement of net position.

M. Closed Fund
During fiscal year 2023, the City transferred its role as a fiscal agent for West Contra Costa I n tegrated
Waste Management Authority to the Authority, and therefore, the custodial fund was closed at June 30, 2023.
33 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023
NOTE 2 – BUDGETS AND BUDGETARY ACCOUNTING
A. Budget Policy
The City follows these procedures in establishing the budgetary data reflected in the financial statements:

1. The City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them.

2. Public hearings are conducted to obtain citizens’ comments.

3. The budget is legally enacted by City Council resolution.

4. All budget adjustments and transfers between funds and between departments must be approved by the City Council by resolu tion during
the fiscal year. The City Manager and Budget
Officer are authorized to transfer any unencumbered appropriations within a department. The legally adopted budget requires that expenditures not exceed to tal appropriations at the department level within each fund.

5. Formal budgetary integration is employed as a ma nagement control device during the year for all budgeted funds.

6. Budgets are adopted on a basis consistent w ith generally accepted accounting principles (GAAP) for all funds except the Low and Moderate Income Housing Assets, Traffic Congestion Relief, HCD Grant and Measure K Special Reve nue Funds. In addition, the Public Works Construction, 2015 Lease Revenue Bonds Capita l Projects Funds, 2022 JPFA Lease Revenue Bonds Debt Service Fund and the 2018 JPFA Lease Revenue Bonds Debt Service Fund are budgeted on a project length basis and therefore are not comparable on an annual basis.

B. Excess of Expenditures over Appropriations
As of June 30, 2023, the following funds had depa rtment expenditures that were in excess of appropriations:

Fund Department Amount
General Fund Police $120,410
Gas Tax Special Revenue Public Works & Engineering 331,615 Measure C/J Special Revenue Community Development 15,000 Total $467,025
The funds had sufficient revenues to finance these expenditures. The City plans to cure the deficit in these funds with future revenues.
34 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023
NOTE 3 – CASH AND INVESTMENTS
The City pools cash from all sources and all funds except Cash and Investments held by Trustees so that it can be invested at the maximum yi eld consistent with safety and li quidity, while individual funds can make expenditures at any time.

A. Policies
California Law requires banks and savings and loan in stitutions to pledge government securities with a market value of 110% of the City’s cash on deposit, or first trust deed mortgage notes with a market value of 150% of the deposit, as collateral for these deposits. Under California Law this collateral is held in a separate investment pool by another institution in the City’s name and places th e City ahead of general creditors of the institution.

The City and its fiscal agents invest in individual investments and in investment pools. Individual
investments are evidenced by specific identifiable securities instruments, or by an electronic entry registering the owner in the records of the institution issuing the security, called the book entry system.

The City’s investments are carried at fair value, as required by gen erally accepted accounting principles.

The City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year. 35 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023
NOTE 3 – CASH AND INVESTMENTS (Continued)
B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not their use is restricted under the terms of debt instruments or agency agreements.

Primary Government Cash and Investments
Cash and investments available for operations $91,324,288 Restricted cash and investments 29,714,518
Component Unit Cash and Investments
Cash available for operations 3,037,761
Fiduciary Funds Cash and Investments
Cash and investments available for operations
in Fiduciary Funds (separate statement):

Successor Agency to the Redevelopment
Agency Private Purpose Trust 92,666
Restricted cash and investments
in Fiduciary Funds (separate statement):

Retiree Health Savings Plan Trust 13,073,919
Successor Agency to the Redevelopment
Agency Private Purpose Trust 1,107,022
Custodial Funds 13,272,958
Total cash and investments $151,623,132
36 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 3 – CASH AND INVESTMENTS (Continued)

C. Investments Authorized by the California Government Code and the City’s Investment Policy

The City’s Investment Policy and the California Government Code a llow the City to invest in the following, provided the credit ratings of the issuers are acceptable to the City and approved percentages and maturities are not exceeded. The table below also identifies certain provisions of the California Government Code, or the City’s Investment Policy where the City’s Investment Policy is more restrictive.

Authorized Investment Type

Maximum
Maturity
Minimum
Credit
Quality
Maximum
Percentage
of Portfolio
Maximum
Investment
In One Issuer

U.S. Treasury Bills, Notes or Bonds

5 years

N/A

No Limit

No Limit
Federal Instrumentality (government
sponsored enterprise)

5 years

N/A

No Limit

No Limit

Federal Agency Mortgage-Backed
Securities and Debentures

5 years

N/A

20%

No Limit

Supranational Securities
5 years
AA or
equivalent 30% 5%
Medium Term Notes

5 years

A or
equivalent

30%

5%
Negotiable Certificates of Deposit

5 years

FDIC
Insured

30%

5%

Non-Negotiable Certificates of Deposit

5 years

FDIC
Insured

30%

5%

Commercial Paper

270 Da
ys

A-1/A or
equivalent

25%

5%

Banker’s Acceptances

180 days

A-1/P-1 or
equivalent

30%

5%

Repurchase Agreements

30 days

N/A

No Limit

No Limit

California Local Agency
I n v e s t m e n
t Fund

N/A

N/A

No Limit

$75 million

Money Market Funds

N/A

AAAm

20%

10%
37 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 3 – CASH AND INVESTMENTS (Continued)

D. Investments Authorized by Debt Agreements

The Successor Agency to the Re development Agency must maintain required amounts of cash and investments with trustees or fisc al agents under the terms of certai n debt issues. These funds are unexpended bond proceeds or are pledged as reserves to be used if the Successor Agency fails to meet its obligations under these debt issues . The California Government Code requires these funds to be invested in accordance with City ordinance, bond indentures or State statute. The table below identifies the investment types that are authorized for investments held by fiscal agents. There is no limitation on the maximum percentage of the portfolio that may be invested in any one investment type or in any one issuer. The table also identifies certain provisions of these debt agreements:

Authorized Investmen
t Type

Maximum
Maturity
Minimum
Credit
Quality

U.S. Treasury Obligations 5 years N/A
U.S. Agency Securities (A) 5 years N/A
State Obligations 5 years A
Commercial Paper 270 days A-1
Certificates of Deposit 365 days A-1
Bankers Acceptances 365 days A-1
Bank Deposits 5 years N/A
Mone
y Market Mutual Funds N/A AAA m
Repurchase Agreements 180 days (B) A
Investment Agreements and Guaranteed
I n v e s t m e n
t Contracts

N/A

N/A

Cash Sweep 5 years N/A
California Asset Management Program N/A N/A
California Local Agency Investment Fund N/A N/A

(A) For the 2015 Lease Revenue Bonds, investments ar e restricted to the Federal Home Loan Bank System, Government National Mortgage Association, Farmer’s Home Administration, Federal Home Loan Mortgage Corporation or Federal Hous ing Administration; provided that with respect to the funds and accounts established under the Inde nture, such obligations shall at no time exceed an amount equal to ten percent (10%) of the aggregate principal amount of the Bonds Outstanding.

(B) For the 2015 Lease Revenue Bonds, limited to 30 days.

E. Investments Authorized for Economic Development Corporation

Economic Development Corporation investments conform with the California Government Code.

38 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 3 – CASH AND INVESTMENTS (Continued)

F. Investments Authorized for the Re tiree Health Savings Plan Trust

The authorized investments for the Retiree Health Sa vings Plan Trust were established pursuant to the Declaration of Trust. The City, as trustee, has el ected to invest the Trust assets in a mutual fund, however the Trust is authorized to invest in time deposits, shares of common and preferred stock, mortgages, bonds, leases, notes, debentures, equipment or collateral trust certificates, rights, warrants, convertible or exchangeable securities and other corporate, individual or government securities or obligations, annuity, retirement or other insurance c ontracts, mutual funds, or in units of any other common, collective or commingled trust fund.

G. Interest Rate Risk

Interest rate risk is the risk that potential future changes in market interest rates will adversely affect the fair value of an investment. No rmally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates.

Information about the sensitivity of the fair values of the investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the investments by maturity or earliest call date:

12 months 13 to 24 25 to 36 36 Fair Value
Investment Type or less months months months + Total U.S. Government Agencies $9,623,677 $3,758,090 $1,229,931 $797,256 $15,408,954 U.S. Treasury Notes 2,377,665 623,594 988,828 1,070,250 5,060,337 Medium Term Notes 4,145,193 1,048,377 826,433 2,288,666 8,308,669 Local Agency Investment Fund 62,431,378 62,431,378 Held by Trustee:

Money Market Funds 33,232,648 33,232,648
Vantage Point MP Long Term Growth Mutual Fund (Equities) 13,073,919 13,073,919 Total Investments $124,884,480 $5,430,061 $3,045,192 $4,156,172 137,515,905 Cash on hand and in banks - City of San Pablo 11,069,466 Cash in banks - Economic Development Corporation 3,037,761 Total Cash and Investments $151,623,132

The City is a participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the authority of the Treasurer of the State of California and is not registered with the Securities and Exchange Commission as an investment company. The City reports its investment in LAIF at the fair valu e amount provided by LAIF, which is the same as the value of the pool share. The balance is available for withdrawal on demand, and is based on the accounting records maintained by LAIF, which are reco rded on an amortized cost basis. Included in LAIF’s investment portfolio are collateralized mortgage obligations, mortgage-backed securities, other asset-backed securities, loans to cer tain state funds, and floating rate securities issued by federal agencies, government-sponsored enterprises, United St ates Treasury Notes and Bills, and corporations.

At June 30, 2023, the average maturity was 260 days.
39 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 3 – CASH AND INVESTMENTS (Continued)

H. Credit Risk

Credit risk is the risk that an issu er of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The actual ratings for the City’s investments as of June 30, 2023 are as follows:

Fair Value
Investment Type AAA m AA+/AA-/AA A+/A/A- Total
U.S. Government Agencies $15,408,954 $15,408,954
Medium Term Notes 1,850,870 $6,457,799 8,308,669
Held by Trustees:

Money Market Funds $33,232,648 33,232,648
Totals $33,232,648 $17,259,824 $6,457,799 56,950,271
Not rated:

Local Agency Investment Fund 62,431,378
Retiree Health Savings Plan Trust:

Vantage Point MP Long Term Growth Mutual Fund (Equities) 13,073,919 Exempt from credit rating disclosure:

U.S. Treasury Notes 5,060,337
Cash on Hand and in Banks - City of San Pablo 11,069,466 Cash on Hand and in Banks - Economic Development Corporation 3,037,761 Total Cash and Investments $151,623,132

I. Fair Value Hierarchy

The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hier archy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs ar e quoted prices in an active market for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.

40 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 3 – CASH AND INVESTMENTS (Continued)

The following is a summary of the fair value hierarchy of the fair value of investments of the City as of June 30, 2023:

Fair Value
Level 2 Total
Investments by Fair Value:

U.S. Treasury Notes $5,060,337 $5,060,337
U.S. Government Agencies 15,408,954 15,408,954 Medium Term Notes 8,308,669 8,308,669
Total Investments at Fair Value $28,777,960 28,777,960
Investments Measured at Amortized Cost:

Held by Trustee:

Money Market Funds 33,232,648
Vantage Point MP Long Term Growth Mutual Fund (Equities) 13,073,919 Investm ents Exem pt from Fair Value Hierarchy:

Local Agency Investment Fund 62,431,378
Total Investments 137,515,905
Cash with Banks and Petty Cash - City of San Pablo 11,069,466 Cash with Banks - Economic Development Corporation 3,037,761 Total Cash and Investments $151,623,132
Investment Type

U.S. Treasury Notes, Federal Agency Securities and Medium Term Notes, classified in Level 2 of the fair value hierarchy, are valued using matrix pricin g techniques maintained by various pricing vendors.

Matrix pricing is used to value securities based on the securities’ relationship to benchmark quoted prices. The California Local Agency Investment Fund, reported at amortized cost, and it is not subject to the fair value reporting requirements. Fair value is defined as the quoted fair market value on the last trading day of the period. These pric es are obtained from various pricing sources by our custodian bank.

J. Concentration of Credit Risk

As of June 30, 2023, the City di d not hold any investments in any one issuer, other than U.S. Treasury securities, money market mutual funds, and the California Local Agency Investment Fund that represent 5% or more of total City-wide investments.

41 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 4 – INTERFUND TRANSACTIONS

A. Current Interfund Balances

Current interfund balances arise in the normal course of business and are expected to be repaid shortly after the fiscal year. At June 30, 2023, current interfund balances are as follows:

Due From Fund: Due to Fund: Amount
Major Fund: Major Fund:

General Fund Public Works Construction $2,346,709
Non-Major Special Revenue Funds:

N.P.D.E.S. 80,825
Total $2,427,534

B. Transfers Between Funds

With Council approval, resources may be transferred from one City fund to another. Transfers In/Out for the year ended June 30, 2023 were as follows:

Transfer
Fund Receiving Transfers Fund Making Transfers Amount
Major Funds:

General Fund 2015 JPFA Lease Revenue Bonds Capital Projects Fund $2,260,050 (A) 2018 JPFA Lease Revenue Bonds Debt Service Fund 1,127 (A) Public Safety Special Revenue Fund 342,647 (B), (C) Traffic Congestion Relief Special Revenue Fund 230,960 (B) Low/Moderate Income Housing Assets Special Revenue Fund General Fund 1,000,000 (D) Public Works Construction Capital Projects Fund General Fund 1,990,955 (E) 2022 JPFA Lease Revenue Bonds Debt Service Fund 933,082 (E) Gas Tax Special Revenue Fund 30,673 (E) Measure C / J Special Revenue Fund 608 (E) 2015 JPFA Lease Revenue Bonds Capital Projects Fund General Fund 137,077 (F) 2022 JPFA Lease Revenue Bonds Debt Service Fund General Fund 1,301,339 (F) Non-Major Funds:

Gas Tax Special Revenue Fund General Fund 1,138,926 (G) Public Safety Special Revenue Fund General Fund 59,272 (G) Measure C / J Special Revenue Fund Public Works Construction Capital Projects Fund 5,608 (H) Street Lighting and Landscaping Special Revenue Fund General Fund 670,760 (G) Measure K Special Revenue Fund General Fund 663,050 (G) 2018 JPFA Lease Revenue Bonds Debt Service Fund General Fund 807,086 (F) $11,573,220
The reasons for these transfers are set forth below:
(A) To transfer final drawdown from project funds for City Hall construction. (B) To transfer revenue.
(C) Law enforcement grant program.
(D) San Pablo Loan Assistance for Sustainable Housing Program. (E) Transfer amounts required to fund capital projects. (F) Transfer to cover debt service and fee requirements. (G) Transfer to cover revenue shortage (negative cash). (H) Transfer to return unused funds.

42 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 5 – LOANS AND NOTES RECEIVABLE

The City and former Redevelopment Agency engage in programs designed to encourage construction or improvement in low-to-moderate income housing or other projects. Under these programs, grants or loans are provided under favorable terms to homeowners or developers who agree to spend these funds in accordance with the City’s or Agency’s terms. Although these loans and no tes are expected to be repaid in full, their balance has be en offset by unavailable revenue in governmental funds, as they are not expected to be repaid during the next fiscal year.

A. Employee Loans Receivable

Elected officials and full-time City employees are eligib le to obtain an interest free loan up to $3,000 to purchase a computer. All requests for loans are subject to review and approval by the Finance Director.

Repayment of these loans is handled through payroll deductions, which are spread out equally for up to two years. Employees must pay of f any outstanding balance of thei r loans upon ending employment with the City. As of June 30, 2023, 4 employees had $2,926 in such loans.

B. Ruby Hills Properties Loans Receivable

During fiscal year 2020-2021 the City loaned $300,000 to Ruby Hill s Properties for the purchase of property. The loan bears no interest . The loan shall have a term of twenty years and shall be entirely forgiven at maturity, as long as the property continues to operate medical offices and an urgent care facility serving the City of San Pablo community. The outstanding balance as of June 30, 2023 was $300,000.

C. Notes Receivable under Redevelopment Agency Programs

The Agency engaged in programs designed to enco urage construction of or improvement to low-to- moderate income housing. Under these programs, grants or loans are provided under favorable terms to homeowners or developers who agree to expend these funds in accordance with the Agency’s terms.

With the dissolution of the Redevelopment Agency as discussed in Note 13, the City agreed to become the successor to the Redevelopment Agency’s housing activities and as a result the Low and Moderate Income Housing Asset Fund assumed the loans receivable of the Redevelopment Agency’s Low and Moderate Income Housing Fund as of February 1, 2012. The balances of the notes receivable in the Low and Moderate Income Housing Assets Fund at June 30, 2023 are as follows:

Casa Adobe-Senior Citizen Units $974,990
Housing Initiative Program 8,210,254
San Pablo Housing Investors/Montevista San Pablo AR 1,492,238 East Bay Asian Local Development Corporation 1,549,164
Lao Family Community Development 912,861
Danco Communities 1,500,000
San Pablo Loan Assistance for Sustainable Housing (SPLASH) Program 91,000 Subtotal 14,730,507
Less: Allowance for conditional grant (912,861)
Total $13,817,646

43 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 5 – LOANS AND NOTES RECEIVABLE (Continued)

D. Casa Adobe - Senior Citizen Units

Under the terms of a Disposition and Development Agreement dated June 5, 1989 between the former Redevelopment Agency and the Developer, Ecumenical Association for Housing (EAH)-San Pablo, the Agency loaned EAH-San Pablo the amount of $824,670 to purchase land and construct the Casa Adobe 55-unit housing complex for low income senior citizens.

During fiscal year 2009, the Agency restructured the original agency loan and provided a new loan in the principal amount of $1,232,951 to assist th e Developer with financing the acquisition and rehabilitation of the Development. The Agency loan consists of the principal and accrued interest on the original Agency loan as of November 1, 2008. The restructured loan has a fifty-five year term with a zero percent interest rate. Comm encing on May 1, 2010 and on each May 1 st thereafter,
payments are to be made from “residual receipts” as defined in the agreement. The balance of the loan at June 30, 2023 was $974,990.

E. Housing Initiative Program

The former Redevelopment Agency administer ed a Housing Initiative Program under which individuals may qualify for first-time home buyer, pu rchase rehabilitation, second and third trust deed home improvement, dilapidated unit purchase, or foreclosed unit pur chase loans. At June 30, 2023, loans outstanding under this Program totaled $8,210,254.

In October 2007, the Agency revised its first- time home-buyers loan program, which included increasing the maximum amount of assistance from $75, 000 to $200,000 and re quiring the homebuyer to enter a shared appreciation agreement as part of the promissory note. Under the shared appreciation, the homebuyer is required to pay the Agency a sh are of the net appreciated value of the home in connection with a transfer of the home before the end of the program loan term (30 years). The percentage of the shared net appreciation is equal to the Agency’s share of the original purchase price of the home, less a 5% discount. The balance of these loans is included in the Housing Initiative Program Loans.

The Agency also administered a State-sponsored CalHome Loan Program under which individuals may qualify for first-time home buyer, purchase rehabilitation, second trust deed home improvement, or foreclosed unit purchase loans.

F. San Pablo Housing Investors

Under the terms of an Owner Participation Ag reement dated January 6, 2003, the former Redevelopment Agency made two loans to San Pablo Housing Investors in fiscal 2004 for the construction of eighty-two low-income rental units for seniors. The first loan of $99,690 was used for City development fees, and the second loan of $1 ,100,000 for construction. The loans carry simple interest rates per annum of 6% and 5.7%, respectively, with loan payments due within twenty years of the Completion Date. The project was completed on June 30, 2003. Payments began on January 31 st
following the Completion Date, and then each January 31 st thereafter; payments are to be made from fifty percent of “residual receipts” as defined in the agreement. As of June 30, 2023, San Pablo Housing Investors owed principal of $1,450,000 and interest of $42,238 for a total of $1,492,238.

44 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 5 – LOANS AND NOTES RECEIVABLE (Continued)

G. East Bay Asian Local Development Corporation

Under the terms of an Owner Participation Ag reement dated September 28, 2004, the former Redevelopment Agency made a construction loan of $500,000 to East Bay Asian Local Development Corporation (EBALDC) for the development of 84 af fordable rental dwelling units and two onsite non- rent restricted management units, with associated parking and common area spaces. The loan does not bear interest and must be repaid in full no la ter than 55 years from the date of the agreement.

Commencing on May 1, 2008 and on each May 1
st thereafter, payments are to be made in an amount
equal to seventy-five percent of “residual receipts” as defined in the agreement.

On August 16, 2005, an amendment to the Owner Pa rticipation Agreement provided EBALDC with a supplemental project loan of up to $1,200,000. Proceeds will facilitate the original construction project.

Repayment terms of this additional loan are the same as the terms of the original loan. As of June 30, 2023, EBALDC has drawn down $1,199,513 of the supplemental project loan.

The balance of the loans as of June 30, 2023 was $1,549,164.

H. Lao Family Community Development

Under the terms of an Affordable Housing Subsid y Agreement dated December 20, 1993, the former Redevelopment Agency made a loan of $82,500 to Lao Family Community Development, Inc. (Lao) for the development of a 32-unit apartment building with three of the units being affordable to moderate income persons. The loan bears interest at the rate of 6.06%, compounded annually. The agreement was amended on January 22, 1996 to prov ide an additional subsidy of $75,000 which bears interest at the rate of 6.83%, compounded annually and increased the affordable units to 15. Both loans are repayable from “residual receipts” as defined in the agreement, and loans are due immediately upon the sale, assignment or transfer of the proper ty without the consent of the Agency, or the expiration of the 30-year affordability covenant. However, unless the Agency directs otherwise, repayment of the loans is to be made to Contra Costa County under the terms of an Intercreditor Agreement; therefore, the City has accounted for this loan as a conditional grant and provided a reserve against the outstanding balance of the loans. As of June 30, 2023, the balance of the loans, including accrued interest, was $912,861.

I. Danco Communities

Under the terms of an Amended and Restated Di sposition and Development Agreement dated March 23, 2023, the former Redevelopment Agency made a purchase loan of $1,500,000 to San Pablo Church Lane LP for the acquisition and development of pr operty located within the City to provide an affordable housing project containing fifty (50) un its of affordable rental housing, together with parking and associated amenities. The loan bears interest at the rate of 3% and is due and payable in full no later than fifty-five years from the date of the agreement. Commencing no later than June 1, 2023, and continuing on the same day each year thereafter, the loan requires payments to be made in an amount equal to 80% of residual receipts. The outstanding balance as of June 30, 2023 was $1,500,000.

45 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 5 – LOANS AND NOTES RECEIVABLE (Continued)

J. San Pablo Loan Assistance for Sustainable Housing (SPLASH) Program

During fiscal year 2022-2023, the City loaned $91, 000 as part of the City’s SPLASH program for a down payment assistance loan to an income-qualified, first-time homebuyer to purchase a home within the City. Under the terms of the program, loans made will be deferred and no payments will be required until the end of the term (30 years) unless the property is sold or otherwise transferred. The loan bears interest at the greater of shared appreciation or 3%. The outstanding balance as of June 30, 2023 was $91,000.

NOTE 6 – CAPITAL ASSETS

All capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are reported at acquisition value. The City’s policy is to capitalize all assets with costs exceeding certain mini mum thresholds and with useful lives exceeding two years.

All capital assets with limited useful lives are depr eciated over their estimated useful lives. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets.

Depreciation of all capital assets is charged as an e xpense against operations each year and the total amount of depreciation taken over the years, calle d accumulated depreciation, is reported on the balance sheet as a reduction in the book value of capital assets.

Depreciation is provided using the straight line method, which means the cost of the asset is divided by its expected useful life in years and the result is ch arged to expense each year until the asset is fully depreciated. The City has assigned the useful lives and capitalization thresholds listed below to capital assets.

Useful
Lives

Capitalization
Years Threshold
Buildings and Improvements 10-50 $25,000
Machinery and Equipment 5-10 5,000
Vehicles 5-10 5,000
Parks and Trails 15-20 25,000
Sports Fields 15-20 25,000
Roads and Streets 20 25,000
Bridges 15-75 25,000
Trees 50 25,000
Streetlights 20 25,000
Storm Drains 20 25,000
Traffic Signals 20 25,000
Intangible right-to-use lease asset 10-50 25,000

The Economic Development Corporation has assigned the following useful lives to its capital assets:

Buildings, 39 years; Furniture and Equipment, 3-7 years; and Vehicles, 5 years. 46 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 6 – CAPITAL ASSETS (Continued)

Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period.

A. Governmental Capital Asset Additions and Retirements

Capital asset activity for the year ended June 30, 2023 is as follows:

Balance at Balance at
June 30, 2022 Additions Retirements Transfers June 30, 2023 Governmental activities
Capital assets not being depreciated:

Land and land improvements $9,221,749 ($384,921) $8,836,828 Construction in progress 12,144,702 $9,701,104 (843,086) 21,002,720 Total capital assets not being depreciated 21,366,451 9,701,104 (384,921) (843,086) 29,839,548 Capital assets being depreciated:

Buildings and improvements 41,516,148 78,294 (5,210,052) 22,965,394 59,349,784 Machinery and equipment 27,357,643 301,425 (730,917) (22,919,123) 4,009,028 Vehicles 4,272,962 503,607 (81,000) 4,695,569
Park and trail improvements 19,665,659 19,665,659
Sports fields 1,506,986 1,506,986
Roads & streets including sidewalks 94,493,164 796,815 95,289,979 Bridges 5,486,753 (258,454) 5,228,299
Street lights 361,078 361,078
Storm drains 2,228,380 2,228,380
Traffic signals 3,121,957 3,121,957
Trees 1,227,462 1,227,462
Intangible right-to-use lease asset 13,741,104 13,741,104 Total capital assets being depreciated 214,979,296 883,326 (6,280,423) 843,086 210,425,285 Less accumulated depreciation for:

Buildings and improvements (10,169,907) (1,296,906) 4,365,166 (7,101,647) Machinery and equipment (3,076,927) (147,351) 716,526 (2,507,752) Vehicles (3,120,129) (283,530) 81,000 (3,322,659) Park and trail improvements (8,586,877) (1,269,297) (9,856,174) Sports fields (1,526,053) (1,526,053)
Roads & streets including sidewalks (53,849,469) (2,029,505) (55,878,974) Bridges (5,016,270) (69,940) 206,763 (4,879,447)
Street lights (346,078) (3,092) (349,170)
Storm drains (1,769,073) (10,200) (1,779,273)
Traffic signals (2,354,677) (62,886) (2,417,563)
Trees (753,309) (24,549) (777,858)
Intangible right-to-use lease asset (329,786) (329,787) (659,573) Total accumulated depreciation (90,898,555) (5,527,043) 5,369,455 (91,056,143) Net capital assets being depreciated 124,080,741 (4,643,717) (910,968) 843,086 119,369,142 Governmental activity capital assets, net $145,447,192 $5,057,387 ($1,295,889) $149,208,690

47 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 6 – CAPITAL ASSETS (Continued)

Construction in progress comprised the following at June 30, 2023:

Project Amount
Police Department Headquarters $953,876
Giant Road 129,773
Citywide Slurry Seal Program 46,803
Rumrill Boulevard Street 16,645,202
Other 3,227,066
Total construction in progress $21,002,720

B. Economic Development Corporation’s Capital Assets

The following is a summary of the Economic Development Corporation’s changes in capital assets for the fiscal year ended June 30, 2023:

Balance at Balance at
June 30, 2022 Additions June 30, 2023
Capital assets being depreciated:

Building - EDC $1,540,000 $1,540,000
Vehicles 13,274 13,274
Total capital assets being depreciated 1,553,274 1,553,274 Less accumulated depreciation (200,241) ($44,872) (245,113) Net capital assets being depreciated 1,353,033 (44,872) 1,308,161 Capital assets, net $1,353,033 ($44,872) $1,308,161

C. Capital Asset Contributions

Some capital assets may be acquired using federal and State grant funds, or they may be contributed by developers or other governments. Contributed capita l assets are valued at their estimated acquisition value on the date contributed.

48 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 6 – CAPITAL ASSETS (Continued)

D. Depreciation Allocation

Depreciation expense is charged to functions and prog rams based on their usage of the related assets.

The amounts allocated to each function or program are as follows:

Governmental Activities:

G eneral G overnm ent ($806,948)
Community Recreation (296,802)
Com m unity Developm ent (437,742)
Public Works (3,748,441)
Police (237,110)
Total depreciation ex pense ($5,527,043)
Discretely Presented Component Unit:

Econom ic Developm ent Corporation ($44,872)

NOTE 7 – LONG-TERM DEBT

The City generally incurs long-term debt to finance projects or purcha se assets which will have useful lives equal to or greater than the related debt. Th e City’s long-term debt is recorded only in the government-wide financial statements.

In governmental fund types, debt discounts and issuance costs are recognized in the current period.

A. Current Year Transactions and Balances

The City’s debt issues and transactions are shown below and discussed in detail thereafter.

Original
Issue Balance Balance Current
Am ount June 30, 2022 Retirem ents June 30, 2023 Portion Lease Revenue Bonds:

Lease Revenue Bonds Series 2015A

2.00-4.00%, due 11/1/2044 $4,255,000 $3,595,000 $3,595,000 Lease Revenue Bonds Series 2018

2.50-5.00%, due 11/1/2052 15,325,000 14,845,000 $255,000 14,590,000 $260,000 Lease Revenue Bonds Series 2022

3.00-4.00%, due 11/1/2053 30,470,000 30,470,000 120,000 30,350,000 605,000 Premium 3,573,108 3,523,481 119,104 3,404,377
Total Lease Revenue Bonds 52,433,481 494,104 51,939,377 865,000 Direct Borrowings - Loan:

Solar Loan

1.0%, due 12/22/2029 1,141,738 618,912 618,912
Total Capital Leases 618,912 618,912
Total City Debt $53,052,393 $1,113,016 $51,939,377 $865,000

49 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 7 – LONG-TERM DEBT (Continued)

B. San Pablo Joint Powers Financing Authority Lea se Revenue Bonds, Series 2015A, Series 2018, and Series 2022

On February 18, 2015, the City of San Pablo Joint Powers Financing Authority (Authority) issued $4,255,000 and $11,555,000 in 201 5 Lease Revenue Bonds, Series A and B, respectively. The Authority proceeds of these bonds were used to finance certain capital improvement projects and property acquisitions for the City, including a library facility and upgrades to City Hall. The Authority has pledged facility lease between the City and the Authority. The Authority would lease the City the City Hall Complex and the City Police Department Building.

Under a site and facility lease date d March 1, 2015, the Authority leased the City Hall complex and police department building from the City and pursuant to a lease agreement dated March 1, 2015, the Authority leased the property to the City. Lease payments from the City to the Authority are pledged for the repayment of the Bonds. Although the lease payments are payable from all legally available funds of the General Fund, the City agreed that each September, upon the receipt of revenue under the City’s Municipal Services Agreement with the Lytton Band of Pomo Indians, to transfer the full amount of the lease payments for that fiscal year to the Bond Trustee. Annual principal payments on the 2015 A and B Lease Revenue Bonds are due Nove mber 1, commencing on November 1, 2015 and 2016, respectively. Semi-annual interest payments are due May 1 and November 1, through 2044 and 2040, respectively, commencing on November 1, 2015 . On February 1, 2022, the outstanding balance of the 2015B Lease Revenue Bonds were refunded and defeased with the issuance of the 2022 Lease Revenue Bonds.

On January 31, 2018, the Authority issued an ad ditional $15,325,000 in 2018 Lease Revenue Bonds.

The proceeds of these bonds were used to finance th e construction of a new City Hall. Under the site and facility lease dated March 1, 2015, amended as of February 1, 201 8, the Authority leased the City Hall project site, medical office building, senior center, corporation yard and Davis Park to the City as construction period leased properties to suppor t the Series 2018 bond paym ents. Upon substantial completion of the City Hall Project, the City released the construction period leased properties mentioned above and instead the City Hall Project, to gether with the Police building, will serve as the leased property in support of both the 2015 and 20 18 bonds. Annual principal payments on the 2018 Lease Revenue Bonds are due November 1, commenci ng on November 1, 2020. Semi-annual interest payments are due May 1 and November 1 through 2052, commencing on May 1, 2018.

The bonds are special limited obligations of the Authority secured by and payable solely from Series 2018 Revenues pledged to the 2018 Bonds under the Inde nture. The City has covenanted in the Lease to take such actions as may be necessary to includ e and maintain all Series 2018 Base Rental Payments in its budget and to make the necess ary appropriations thereof, subject to such abatement. Should the City default under the facilities sublease, the Author ity at its option may terminate the Lease and re- lease all or any portion of the Leased Property, provided that the Authority shall have no right to re-let the Corporation Yard or Davis Park portions of th e Leased Property. Notwithstanding anything in the Indenture to the contrary, there shall be no right under the circumstances to accelerate the Base Rental Payments or otherwise declare any Base Rental Payments not then in default to be immediately due and payable.

50 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 7 – LONG-TERM DEBT (Continued)

On February 1, 2022, the Authority issued an additional $30,470, 000 in 2022 Lease Revenue Bonds.

The proceeds of these bonds will be used to finance the construction of Police Headquarters and Public Safety Training Center Project and to refund and defease all of the Authority’s outstanding Lease Revenue Bonds, Series 2015B. Annua l principal payments on the 2022 Lease Revenue Bonds are due November 1, commencing on November 1, 2022. Se mi-annual interest payments are due May 1 and November 1 through 2052, commencing on May 1, 2022. The refunding resulted in a net present value savings to the City in debt services of $621,083.

The bonds are special limited obligations of the Authority secured by and payable solely from Series 2022 Revenues pledged to the 2022 Bonds under the Inde nture. The City has covenanted in the Lease to take such actions as may be necessary to includ e and maintain all Series 2022 Base Rental Payments in its budget and to make the necess ary appropriations thereof, subject to such abatement. Should the City default under the facilities sublease, the Author ity at its option may terminate the Lease and re- lease all or any portion of the Leased Property, with the exception of the WIC Building.

Notwithstanding anything in the Indenture to the contrary, there shall be no right under the circumstances to accelerate the Base Rental Payments or otherwise declare any Base Rental Payments not then in default to be immediately due and payable.

Debt service requirements are shown below for the bonds:

For the Year Ending June 30 Principal Interest Total
2024 $865,000 $1,833,919 $2,698,919
2025 900,000 1,800,469 2,700,469
2026 935,000 1,764,769 2,699,769
2027 975,000 1,727,107 2,702,107
2028 1,015,000 1,687,307 2,702,307
2029-2033 5,755,000 7,751,585 13,506,585
2034-2038 7,065,000 6,435,141 13,500,141
2039-2043 8,550,000 4,953,357 13,503,357
2044-2048 10,205,000 3,296,705 13,501,705
2049-2053 12,270,000 1,230,288 13,500,288
Total $48,535,000 $32,480,647 $81,015,647

C. Solar Panel Loan

The City executed a loan agreem ent with California Energy Commission on March 3, 2013 to fund the installation of solar panels at five San Pablo fac ilities, in the amount of $1,141,738. The associated projects started in July 2013 and the proceeds from the loan were drawn down during the year ended June 30, 2014. The loan bears interest of 1.00% and is due in 29 semi-annual installments of $42,932 from December 22, 2015 through December 22, 2029. The City paid off the remaining $618,912 balance of the loan using proceeds from the 2022 Lease Revenue Bonds in May 2023.

51 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 7 – LONG-TERM DEBT (Continued)

D. EDC Notes and Loans Payable

As discussed in Note 13, the EDC purchased a building at Mission Plaza in July 2018 from the Successor Agency, who provided financing to the EDC in the amount of $1,350,000. During fiscal year ended June 30, 2020, the EDC paid $50,000 towards principal. The Note is secured by the property, bears interest at an annual rate of 4%, and is due and payable in full no later than twelve (12) years from the date of the note. The EDC will make annua l interest-only payments of $52,000 over the 12 years, at which time, the balance of the principal will be due.

Future repayment requirements for the note are shown below:

For the Year Ending June 30 Principal Interest Total
2024 $52,000 $52,000
2025 52,000 52,000
2026 52,000 52,000
2027 52,000 52,000
2028 52,000 52,000
2029-2031 $1,300,000 156,000 1,456,000
Total $1,300,000 $416,000 $1,716,000

52 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 8 – NET POSITION AND FUND BALANCES

Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund’s cash and receivables, less its liabilities.

Net Position is measured on the full accrual basis while Fund Balance is measured on the modified accrual basis, as explained in Note 1D.

A. Net Position

Net Position is the excess of all the City’s assets and deferred outflows of resources over all its liabilities and deferred inflows of resources, regardless of fund. Net Position is divided into three captions.

These captions apply only to Net Position, which is determined only at the Government-wide level, and are described below:

Net investment in capital assets describes the portion of Net Position which is represented by the current net book value of the City’s capital assets, less the outstanding balance of any debt issued to finance these assets.

Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter. These principally include developer fees received for use on capital projects, debt service requirements, and redevelopment funds restricted to low and moderate income purposes.

Unrestricted describes the portion of Net Position which is not restricted as to use.

B. Fund Balances

Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund’s cash and receivables, less its liabilities.

The City’s fund balances are classi fied based on spending constraints imposed on the use of resources.

For programs with multiple funding sources, the City prioritizes and expends funds in the following order: Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked according to the degree of spending constraint:

Nonspendable represents balances set aside to indicate items do not represent available, spendable resources even though they are a component of assets. Fund balances required to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, and land held for redevelopment are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed or assigned, then nonspendable amounts are required to be presented as a component of the applicable category.

Restricted fund balances have external re strictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for a specific purpose.

Encumbrances and nonspendable amou nts subject to restrictions ar e included along with spendable resources.

Committed fund balances have constraints imposed by formal action of the City Council which may be altered only by formal action by Re solution of the City Council. Encumbrances and nonspendable amounts subject to Council commitments are included along with spendable resources.

53 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 8 – NET POSITION AND FUND BALANCES (Continued)

Assigned fund balances are amounts constrained by the City’s intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expr essed by the City Council or its designee, the Finance Manager, during the adoption of the annual budget a nd may be changed at the discretion of the City Council or the Finance Manager.

Unassigned fund balance represents residual amounts th at have not been restricted, committed, or assigned. This includes the residual general fund ba lance and residual fund defi cits, if any, of other governmental funds.

Detailed classifications of the City’s fund balances, as of June 30, 2023, are below:

Special Capital Debt
Revenue Projects Service
Low and
Moderate 2015 2022 Other
General Income JPFA Lease JPFA Lease Governmental
Fund Balance Classifications Fund Housing Assets Revenue Bonds Revenue Bonds Funds Total Nonspendable:

Items not in spendable form:

Prepaids and deposits $58,816 $58,816
Employee loans receivable 2,926 2,926 Total Nonspendable Fund Balances 61,742 61,742
Restricted for:

Redevelopment Low and Moderate
Income Housing 6,156,109 $9,407,749 15,563,858
Street Lighting and Landscaping $249,219 249,219
Local Street and Road Improvements
and Maintenance 6,225,908 6,225,908
Law Enforcement 704,006 704,006
Paratransit 643,812 643,812
Housing Grants 134,381 134,381
Capital projects $61 $29,712,707 31,593 29,744,361
Total Restricted Fund Balances 6,156,109 9,407,749 61 29,712,707 7,988,919 53,265,545 Committed:

Capital projects 1,440,600 1,440,600
Total Committed Fund Balances 1,440,600 1,440,600
Assigned
General fund 15,248,058 15,248,058
Total Assigned Fund Balances 15,248,058 15,248,058
Unassigned:

General fund 54,372,610 (2,000) 54,370,610
Total Unassigned Fund Balances 54,372,610 (2,000) 54,370,610

Total Fund Balances $77,279,119 $9,407,749 $61 $29,712,707 $7,986,919 $124,386,555

54 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 8 – NET POSITION AND FUND BALANCES (Continued)

C. Stabilization and Contingency Arrangements

The City adopted a Fiscal Resiliency Policy with Re solution 2013-159, which established four types of reserves to address unanticipated, one-time needs as follows:

Catastrophic Reserve: To assist with expenses due to severe, natural, financial, or legal calamities including earthquakes, floods, disruptions in casino income, major legal judgments against the City and would be funded with fift y percent of the annual Total Operating Funds Budget, including transfers to CIP. The Cata strophic Reserve can only be used upon adoption of a Statement of Findings and/or a Declaration of Emergency subject to City Council approval and must be repaid within three fiscal years.

Budget Stabilization Reserve: To replace the prior Budget Stab ilization Fund to serve as a budget balancing tool to counteract the impacts of ec onomic downturns and declining revenues in the economic cycle, and the funds would be used for unforeseen, unplanned, one-time expenses that assist the City in developing fiscal resiliency, and the reserve will be funded with the equivalent of five percent of the annual Total Operating Funds budget, including transfers to CIP. The use of the Budget Stabilization Reserve requires approval of the Budget Services Ad-Hoc Subcommittee in addition to a Statement of Findings by the City Council and all uses must be repaid in the following fiscal year to prevent long-term structural deficits.

General Fund Designated Reserves : Identified within the Total Operating Funds and “designated” or earmarked by City Council for particular future uses as a way to prefund large expenditures, including but not limited to replacem ent of large capital equipment, information technology systems, facilities and infrastructure maintenance and replacement, accrued employee leave costs, PERS rate increases, workers' compensation costs, general liability costs, etc.

Future Capital Projects Reserves: Specific fund balances designated within the Total Operating Funds by City Council for future capital projects that Council determines to be in the best, long- term interests of the City.

Casino Revenue Sustainability Reserve: The City amended Resolution 2013-159, by the adopting Resolution 2016-218 which established a new discretionary reserve, the Casino Revenue Sustainability Reserve. The purpose of the reserve is to mitigate against the potential impact that a sudden shutdown or loss of casino revenue would ha ve on the City’s ability to maintain current operations and service levels. This reserve gives the City the ability to save up to maximum of 50% of unused audited fund balan ce annually to mitigate the potential of future casino revenue impacts. All deposits and withdrawals from the fund are discretionary, but require approval by the Budget, Fiscal & Legislative Standing Committee and a majority approval by resolution of the City Council.

55 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 8 – NET POSITION AND FUND BALANCES (Continued)

The required balance of each reserve for the year ended June 30, 2023, and the actual balance for each as of June 30, 2023, which are reported within the unassigned fund balance of the General Fund follows:

Required Ending
Balance
Balance as of
June 30, 2023
Catastrophic Reserve $25,064,230 $25,064,230
Budget Stabilization Reserve 2,506,423 2,506,423
Casino Revenue Sustainability Reserve 4,559,370 4,559,370 Unassigned 22,242,587
Total General Fund Unassigned Fund Balance $54,372,610

NOTE 9 – PENSION PLANS

A. General Information about the CalPERS Pension Plans

Plan Description – All qualified permanent and probationary employees are required to participate in the City’s separate Safety (police) and Miscellane ous (all other) Employee Pension Rate Plans. The City’s Miscellaneous and Safety Rate Plans are pa rt of the public agency cost-sharing multiple- employer defined benefit pension plan (PERF C), wh ich is administered by the California Public Employees’ Retirement System (CalPERS). PERF C consists of a miscellaneous pool and a safety pool (also referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively. Individual empl oyers may sponsor more than one miscellaneous and safety rate plan. The employer participates in one cost-sharing multiple-e mployer defined benefit pension plan regardless of the number of rate plan s the employer sponsors. The City sponsors four rate plans (two miscellaneous and two safety).

Benefit provisions under the Plan are established by
State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan re garding benefit provisions, assumpti ons and membership information that can be found on the CalPERS website.

Benefits Provided – CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries.

Benefits are based on years of credited service, equa l to one year of full time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

56 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 9 – PENSION PLANS (Continued)

The Plan’s provisions and benefits in effect at June 30, 2023, are summarized as follows:

Miscellaneous
Classic PEPRA
Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2.5% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50 - 55 52 - 67
Monthly benefits, as a % of eligible compensation 2.0% to 2.5% 1.0% to 2.5% Required employee contribution rates 8.0% 6.75%
Required employer contribution rates 12.21% 7.47%
Safety
Classic PEPRA
Hire date
Prior to
Januar
y 1, 2013
On or after
January 1, 2013
Benefit formula 3% @ 50 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50 50 - 57
Monthly benefits, as a % of eligible compensation 3% 2.0% to 2.7% Required employee contribution rates 9.0% 13%
Required employer contribution rates 23.75% 12.78%

Beginning in fiscal year 2016, CalPERS collects employer contributions for the plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability (UAL). The dollar amount s are billed on a monthly basis or can be paid in a lump sum at a reduced amount. The City elected to make the pay as you go contributions and the required contribution for the unfunded liability was a lump sum payment of $3,949,412 in fiscal year
2023.

Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public empl oyers be determined on an annual basis by the actuary and shall be effective on the July 1 foll owing notice of a change in the rate. Funding contributions for the Plan are determined annually on an actuarial basis as of June 30 by CalPERS.

The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an a dditional amount to finance any unfunded accrued liability. The City is required to contribute the diffe rence between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended. Payments made by the em ployer to satisfy contribution requirements that are identified by the pension plan terms as plan member contribut ion requirements are classified as plan member contributions.

57 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 9 – PENSION PLANS (Continued)

For the year ended June 30, 2023, the City’s total contributions to the Plan were $6,533,483.

The long-term portion of the Governmental Activities Net Pension Liability is liquidated primarily by the General Fund.

B. Pension Liabilities, Pension Expenses and Defe rred Outflows/Inflows of Resources Related to Pensions

For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Plan and additions to/deductions from the Plan’s fiduciary net position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when curren tly due and payable in accordance with the benefit terms. Investments are reported at fair value.

As of June 30, 2023, the City reported a net pens ion liability for its proportionate share of the net pension liability of the Plans as follows:

Proportionate Share
of Net Pension Liability
Miscellaneous $21,659,700
Safety 33,568,233
Total Net Pension Liability $55,227,933

The City’s net pension liability for the Plan is meas ured as the proportionate share of the net pension liability. The net pension liability of the Plan is m easured as of June 30, 2022, and the total pension liability for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures. The City’s proportions of the net pension liability was based on a projection of the C ity’s long-term share of contributions to the pension plans re lative to the projected contributions of all participating employers, actuarially determined.

The City’s proportionate share of the net pension li ability for the Plans as of June 30, 2021 and 2022 was as follows:

Mis cellaneous
Proportion - June 30, 2021 0.64074%
Proportion - June 30, 2022 0.46289%
Change - Increase (Decrease) -0.17785%
Safety
Proportion - June 30, 2021 0.51771%
Proportion - June 30, 2022 0.48851%
Change - Increase (Decrease) -0.02920%

58 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 9 – PENSION PLANS (Continued)

For the year ended June 30, 2023, the City recognized pension expense of ($1,256,752). At June 30, 2023, the City reported deferred outflows of resour ces and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date $6,533,483 Differences between actual and expected experience 1,824,236 ($655,848) Changes in assumptions 5,604,183
Net differences between projected and actual earnings on plan investments 9,268,375
Change in proportion and differences between actual contributions and
proportionate share of contributions 1,731,700 (4,858,408) Total $24,961,977 ($5,514,256)

Deferred outflows of resources related to contributi ons subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024 for $6,533,483.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Year Ended Annual
June 30 Amortization
2024 $3,176,356
2025 2,546,889
2026 1,530,733
2027 5,660,260
Total $12,914,238

Actuarial Assumptions – For the measurement period ended June 30, 2022, the total pension liability was determined by rolling forward the June 30, 20 21 total pension liability. The June 30, 2021 total pension liabilities were based on the following actuarial methods and assumptions for all benefit tiers:

Valuation Date June 30, 2021 June 30, 2021
Measurement Date June 30, 2022 June 30, 2022
Actuarial Cost Method Entry-Age Normal Cost Method Entry-Age Normal Cost Method Actuarial Assumptions:

Discount Rate 6.90% 6.90%
Inflation 2.30% 2.30%
Projected Salary Increase
Investment Rate of Return 6.90% (2) 6.90% (2)
Mortality Rate Table Derived using CalPERS Membership
Data for all Funds (3)
Post Retirement Benefit Increase The lesser of contract COLA or 2.30% until Purchasing Power Protection Allowance Floor on
Purchasing Power applies, 2.30% thereafter.
(1) Depending on age, service and type of employment.
(2) Net of pension plan investment expenses, including inflation. (3) The mortality table used was developed based on CalPERS’ specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study for the period from 2001 to 2019. Pre-retirement and Post-retirement mortality rates include generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from November 2021 that can be found on the CalPERS website.

Data for all Funds
(3)
The lesser of contract COLA or 2.30% until
Purchasing Power Protection Allowance Floor
on Purchasing Power applies, 2.30% thereafter.

Safety (1)
Varies by Entry Age and Service Varies by Entry Age and Service Derived using CalPERS Membership
Miscellaneous (1)

59 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 9 – PENSION PLANS (Continued)

The underlying mortality assumptions and all other actua rial assumptions used in the June 30, 2021 valuation were based on the results of November 2021 actuarial experience study for the period 2001 to 2019. Further details of the Experience Study can be found on the CalPERS website.

Discount Rate – The discount rate used to measure the to tal pension liability for the Plan was 6.90%.

The projection of cash flows used to determine the discount rate for the Plan assumed that contributions from all plan members in the Pub lic Employees Retirement Fund (PERF) will be made at the current member contribution rates and that contributions fro m employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected fu ture benefit payments of current plan members.

Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

The long-term expected rate of return on pension plan investments was determined using a building- block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of re turn, CalPERS took into account both short-term and long-term market return expectations as well as th e expected pension fund cash flows. Using historical returns of all the funds’ asset cl asses, expected compound (geometric ) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

The table below reflects the expected real rates of return by asset class.

Asset Class (1)
Assumed
Asset
Allocation Real Return (1), (2)
Global Equity-Cap Weighted 30.0% 4.54%
Global Equity-Non-Cap Weighted 12.0% 3.84%
Private Equity 13.0% 7.28%
Treasury 5.0% 0.27%
Mortgage-backed Securities 5.0% 0.50%
Investment Grade Corporates 10.0% 1.56%
High Yield 5.0% 2.27%
Emerging Market Debt 5.0% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Leverage -5.00% -0.59%
Total 100%
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management study.

60 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 9 – PENSION PLANS (Continued)

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate – The following presents the City’s proportionate sh are of the net pension liability for the Plans, calculated using the discount rate for the Plans, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:

Miscellaneous Safety
1% Decrease 5.90% 5.90%
Net Pension Liability $31,553,958 $49,388,626
Current Discount Rate 6.90% 6.90%
Net Pension Liability $21,659,700 $33,568,233
1% Increase 7.90% 7.90%
Net Pension Liability $13,519,181 $20,638,635

Pension Plan Fiduciary Net Position – Detailed information about th e pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

61 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 10 – POST RETIREMENT HEALTH CARE DEFINED BENEFIT PLAN

A. General Information about the City’s Ot her Post Employment Benefit (OPEB) Plan

Plan Description – In addition to the pension benefits descr ibed in Note 9 above, the City provides medical and dental benefits to substantially a ll retirees under the City of San Pablo Retiree Health Savings Plan, a single-employer defined benefit hea lthcare plan, in accordance with paragraph 4 of GASB Statement No. 75. Coverage is also provided for spouses of employees having a minimum of 20 years of service at retirement.

Benefits Provided – The following is a summary of Plan benefits by employee group as of June 30, 2023:

San Pablo Police
Employees
Association
(SPPEA)
Public Employees
Local
One/AFSCME
Executive
Management Contract Employees Elected Officials
Confidential,
Division managers,
and AIE
Benefit Types Provided Medical only (E) Medical only Medical and Dental Medical and Dental Medical and Dental
(H) Medical only
Duration of Benefits (A) Until Age 65 (B)(D) Until Age 65 (B) Lifetime (G) Lifetime (G) Lifetime (G) Until Age 65 (B) Required Service:

Basic
Supplemental
10 years for 1-party
supplemental. 20
years for 2-party
supplemental
15 years for $135
supplemental.
25 years for $480
supplemental
10 years
5 years for City
Manager.
10 years for City
Attorney
2 terms (8 years) for
supplemental
medical.
3 terms (12 years)
for supplemental
medical and dental
15 years for $135
supplemental.
25 years for $480
supplemental
M i n i m u m A g e 5 05 05 05 05 05 0
Dependent Coverage
One dependent, if
EE served for 20+
years
(20 years)
Yes, if EE served
for more than 25
years
Yes Yes Yes
Yes, if EE served
for more than 25
years
City Contribution 100%
Flat amount $135
for 15+ years of
service; $480 for
25+ years of service
and enrolled in a
plan for 2 or more
100% 100% 100%
Flat amount $135
for 15+ years of
service; $480 for
25+ years of service
and enrolled in a
plan for 2 or more
City PEMHCA Contribution
Cap per Month (Basic) (C)
$128 for single
$220 for two party
(E) $285 for family
(E)
$128 for single
$220 for two party
$285 for family
$128 for single
$220 for two party
$285 for family
$128 for single
$220 for two party
$285 for family
$128 for single
$220 for two party
$285 for family
$128 for single
$220 for two party
$285 for family
City Supplemental Contribution
Cap per Month (Supp)
Cost of 1-party or 2
-
party plan selected
by retiree (D)
15 years service
$135; 25 years of
service $480
None None None 15 years service
$135; 25 years of
service $480
(A) Duration is subject to limitations as specified in the Memorandum of Understanding with each bargaining unit. (E) Benefit only applies if the retiree was hired before July 1, 2014. (G) City shall pay the monthly supplemental allowance for life of the retiree, or if the retiree has died, to the retirees spouse or registered domestic partner. (C) The minimum contributions under the Public Employees Medical and Hospital Care Act (PEMHCA) is adjusted by CalPERS annually. (D) Those hired before May 1, 1986 with 20 years of service are entitled to receive a monthly amount equivalent to a Kaiser Supplement/Managed Medicare 1-party plan rate at time of retirement until death of the retiree.
(F) Qualified annuitants that retire under an Industrial Disability Retirement and are members of SPPEA and have attained 20+ years of service will receive the same benefit as those with Service Retirements.
(H) City Council members first elected before Jan. 1, 2013 and City Treasurer and City Clerk if elected prior to November 2010 that have served a minimum of 2 terms are eligible for city-paid supplemental medical coverage. City Council members that have served at least three terms, and were elected prior to Jan. 1, 2013 are also eligible for continued dental coverage.

Service Retirement under CALPERS within 120 days of separation (F) (B) From the date of retirement and until such time the retiree becomes eligible for Medicare, turns the age of sixty-five (65) receives health insurance coverage from another source, or dies, whichever comes first.

62 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 10 – POST RETIREMENT HEALTH CARE DEFINED BENEFIT PLAN (Continued)

For the year ended June 30, 2023, the City’s contributions to the Plan were $575,884.

Employees Covered by Benefit Terms – Membership in the plan consisted of the following at the measurement date of June 30, 2023:

Active employees 149
Inactive employees or beneficiaries currently
receiving benefit payments 78
Inactive employees entitled to but not yet
receiving benefit payments -
Total 227

B. Total OPEB Liability

Actuarial Methods and Assumptions – The City’s net OPEB liability (asset) was measured as of June 30, 2023 and the total OPEB liability used to calculate the net OPEB li ability (asset) was determined by an actuarial valuation dated June 30, 2022 that was ro lled forward using standard update procedures to determine the $12,049,392 total OPEB liability as of June 30, 2023, based on the following actuarial methods and assumptions:

Actuarial Assumptions
Valuation Date June 30, 2022
Measurement Date June 30, 2023
Actuarial Cost Method Entry age normal, level percent of pay Amortization Method Closed period, level percent pay
Amortization Period 20 years
Actuarial Assumptions:

Discount Rate 6.50%
Inflation 2.30%
Payroll Growth 2.80%
Investment Rate of Return 6.50%
Mortality Rate Based on CalPERS Rates
Pre-Retirement Turnover Based on CalPERS Rates
Healthcare Trend Rate 6.50%, trendin g down to 3.73%

Discount Rate – The discount rate used to measure the total OPEB liability was 6.50%. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

The long-term expected rate of return on the City’s OPEB plan assets, invested with ICMA-RC in the VT II Model Portfolio Aggressive F und is 6.50%. This rate of return is the 10 year average annual return based on past performance of the fund and is provided by ICMA-RC.

63 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 10 – POST RETIREMENT HEALTH CARE DEFINED BENEFIT PLAN (Continued)

C. Changes in Total OPEB Liability and Plan Fiduciary Net Position

The changes in the total OPEB liability and plan fiduciary net position follows:

Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a) (b) (a) - (b)
Balance at June 30, 2022 $14,785,756 $11,559,964 $3,225,792 Changes Recognized for the Measurement Period:

Service Cost 606,887 606,887
Interest on the total OPEB liability 855,088 855,088
Differences between expected and actual experience (1,219,193) (1,219,193) Changes of assumptions (2,132,636) (2,132,636)
Contributions Employer - City's Contribution 575,884 (575,884) Contributions Employer - Implicit Subsidy 270,626 (270,626) Net investment income 1,513,955 (1,513,955)
Benefit payments - Employee Contributions (575,884) (575,884) Benefit payments - Implicit Rate Subsidy Fulfilled ( 270,626) (270,626) Net changes (2,736,364) 1,513,955 (4,250,319)
Balance at June 30, 2023 $12,049,392 $13,073,919 ($1,024,527) Increase (Decrease)

Detailed information about the OPEB plan’s fiduciar y net position is available in the Retiree Health Savings Plan Trust Fund. The benefit payments and refunds include implied subsidy benefit payments in the amount of $270,626.

The long-term portion of th e Governmental Activities OPEB Liability is liquidated primarily by the General Fund.

D. Sensitivity of the Net OPEB Liability (Asset) to Ch anges in the Discount Rate and Healthcare Cost Trend Rates

The following presents the net OPEB liability (asset) of the City, as well as what the City's net OPEB liability (asset) would be if it were calculated usin g a discount rate that is 1-percentage-point lower (5.50%) or 1-percentage-point higher (7.50%) than the current discount rate:

Net OPEB Liability/(Asset)
Discount Rate -1% Current Discount Rate Discount Rate +1% (5.50%) (6.50%) (7.50%)
$153,053 ($1,024,527) ($2,042,141)

64 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 10 – POST RETIREMENT HEALTH CARE DEFINED BENEFIT PLAN (Continued)

The following presents the net OPEB liability (asset) of the City, as well as what the City's net OPEB liability (asset) would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower (5.50%) or 1-percentage-point higher (7.50%) than the current healthcare cost trend rates:

Net OPEB Liability/(Asset)
Current Healthcare Cost
1% Decrease Trend Rates 1% Increase

5.50% non-Medicare / 4.40%
Medicare decreasing to 2.73%

6.50% non-Medicare / 5.40% Medicare
decreasing to 3.73%

7.50% non-Medicare / 6.40% Medicare
decreasing to 4.73%
($2,269,238) ($1,024,527) $479,698

E. OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB

For the year ended June 30, 2023, the City recognized OPEB expense of $152,114. At June 30, 2023, the City reported deferred outflows and inflows of resources related to OPEB from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual experience $53,474 ($2,994,016) Changes of assumptions 3,288,818 (2,104,897)
Net differences between projected and actual earnings
on plan investments (90,324)
Total $3,342,292 ($5,189,237)

Amounts reported as deferred outflows of resources and deferred inflow s of resources related to OPEB will be recognized as part of OPEB expense as follows:

Year Annual
Ended June 30 Amortization
2024 ($141,612)
2025 (226,735)
2026 277,836
2027 (472,891)
2028 (363,358)
Thereafter (920,185)
Total ($1,846,945)

NOTE 11 – DEFERRED COMPENSATION PLAN

City employees may defer a portion of their compensation under a City sponsored Deferred Compensation Plan created in accordance with Internal Revenue Code Section 457. Under this plan, participants are not taxed on the deferred portion of their compensation until distributed to them; distributions may be made only at termination, retir ement, death or in an emergency as defined by the Plan. The City does not provide any contributions to the Deferred Compensation Plan and all contributions to the plan are made by employees.

The laws governing deferred compensation plan assets require plan assets to be held by a Trust for the exclusive benefit of plan participants and their be neficiaries. Since the assets held under these plans are not the City’s property and are not subject to City control, they have been excluded from these financial statements.
65 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 12 – RISK MANAGEMENT

A. Municipal Pooling Authority (MPA)

The City is a member of the Municipal Pooling Authority (Authority). The Authority provides coverage against the following types of loss risks un der the terms of a joint-powers agreement with the City and several other cities and governmental agencies as follows:

$29,000,000
Cyber Liability ($100,000) 2,000,000
Public Entity Pollution Liability ($250,000) 1,000,000
V ehicle - Physical Dam age ($3,000 for police vehicles, $2,000 for all others) 250,000
Workers' Com pensation (no deductible) Statutory Lim it G overnm ent Crim e Coverage ($2,500) 5,000,000
Employment Liability Program ($100,000) 1,000,000
Property
All Risk ($25,000) 1,000,000,000
Water ($150,000) 800,000,000
Flood* 25,000,000
Boiler & Machinery ($10,000) 100,000,000
* $100,000 minimum deductible, per occurrence, except
Zone A and V, which are subject to a $250,000 deductible, per occurrence
Liability ($10,000)
Type of Coverage (Deductible) Coverage Lim its

The Authority is governed by a Board consisting of representatives from member municipalities. The Board controls the operations of the Authority, including selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on the Board.

The City’s deposits with the Authority are in accordan ce with formulas established by the Authority.

Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating.

Audited financial statements for the Authority are available from MPA, 1911 San Miguel Drive, Suite 200, Walnut Creek, CA 94596.

Settlements did not exceed insurance coverage for the last three fiscal years.

66 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 12 – RISK MANAGEMENT (Continued)

B. Liability for Uninsured Claims

The City provides for the uninsured portion of clai ms and judgments, including a provision for claims incurred but not reported, when a loss is deemed pr obable of assertion and the amount of the loss is reasonably determinable.

The City’s liability for uninsured claims at June 30 was estimated by management based on claims experience reported by the Authority and was computed as follows:

2023 2022
Beginning balance $66,423 $66,423
Provision for current fiscal year claims 80,010 18,933 Change in provision for prior fiscal year claims (610,027) (374,005) Claims paid 566,263 355,072
Ending balance $102,669 $66,423
June 30,

NOTE 13 – SUCCESSOR AGENCY ACTIVITIES

The activities of the Successor Agency are reporte d in the Successor Agency to the Redevelopment Agency Private-Purpose Trust Fund as the activitie s are under the control of the Oversight Board.

The City provides administrative services to the Successor Agency to wind down the affairs of the former Redevelopment Agency. Activities of the Successor Agency are as follows:

A. Cash and Investments

Cash and investments of the Successor Agency as of June 30, 2023 are discussed in Note 3.

Information presented in the following footnotes repr esents other assets and liabilities of the Successor Agency as of June 30, 2023.

B. Loans Receivable

The Successor Agency assumed the non-housing loans receivable of the former Redevelopment Agency as of February 1, 2012. The former Redevelopment Agency engaged in programs designed to encourage construction of or im provement to low-to-moderate income housing. Under these programs, grants or loans were provided under fa vorable terms to homeowners or developers who agreed to expend these funds in accordance with the Agency’s terms. As of June 30, 2023, the balances of these loans was $23,127.

67 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 13 – REDEVELOPMENT AGENCY DISSOLUTION AND SUCCESSOR AGENCY ACTIVITIES (Continued)

During fiscal year 2016, in conjunction with the sale of Successor Agency-owned property, the Successor Agency agreed to loan th e funds necessary for the land purcha se to the buyer. The loan is secured by a promissory note and de ed of trust on the property. The Note bears simple annual interest of 3.25% and interest payments ar e due annually each December thro ugh 2039. The principal balance of the Note is due on December 10, 2039. The balance of the note receivable was $616,574 as of June 30, 2023.

In July 2018, in conjunction with the sale of Successor Agency-owned property at Mission Plaza, the Successor Agency provided financing to the San Pablo Economic Development Corporation in the amount of $1,350,000. During fi scal year ended June 30, 2020, the EDC paid $50,000 towards the principal on the note, reducing it to $1,300,000. The Note is secured by the property, bears interest at an annual rate of 4%, and is due no later than twelve y ears from the date of the note. The EDC will make annual interest-only payments of $54,000 to the Succe ssor Agency over the course of 12 years, at which time, the balance of principal will be due.

The balances of the notes receivable arising from these programs at June 30, 2023 are as follows:

Micro Loan Program $23,127
Pakpour Loan 616,574
EDC - Mission Plaza 1,300,000
Total $1,939,701

C. Property Held for Resale

The Successor Agency assumed the property held for resale of the former Redevelopment Agency as of February 1, 2012. The former Redevelopment Agency had purchased pa rcels of land as part of its efforts to develop or redevelop blighted proper ties within the Redevelopment areas. Such land parcels are accounted for at the lower of cost or ne t realizable value or agreed-upon sales price if a disposition agreement has been made with a developer.

D. Capital Assets

The Successor Agency assumed the capital assets of the former Redevelopment Agency as of February 1, 2012. All capital assets are valued at historical cost or estimated hi storical cost if actual historical cost is not available. Contributed capital assets ar e valued at their estimated fair market value on the date contributed. The Successor Agency’s policy is to capitalize all assets with costs exceeding certain minimum thresholds and with useful lives exceeding two years.

All capital assets with limited us eful lives are depreciated over their estimated useful lives. The purpose of depreciation is to spread the cost of capital assets equitably among all users over the life of these assets. The amount charged to depreciation expense each year represents that year’s pro rata share of the cost of capital assets.

Depreciation of all capital assets is charged as an expense against operations each year and the total amount of depreciation taken over the years, ca lled accumulated depreciation, is reported on the balance sheet as a reduction in the book value of capital assets.

68 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 13 – REDEVELOPMENT AGENCY DISSOLUTION AND SUCCESSOR AGENCY ACTIVITIES (Continued)

Depreciation is provided using the straight line method, which means the cost of the asset is divided by its expected useful life in years and the result is ch arged to expense each year until the asset is fully depreciated. The Successor Agency has assigned the useful lives and capitalization thresholds listed below to capital assets.

Useful
Lives

Capitalization
Years Threshold
Buildings and Improvements 10-50 $25,000
Machinery and Equipment 5-10 5,000
Vehicles 5-10 5,000

Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period.

Capital assets recorded at June 30 is comprised of the following:

Balance at Balance at
June 30, 2022 Additions Retirements June 30, 2023
Capital assets not being depreciated:

Land and land improvements $2,819,393 $2,819,393
Total capital assets not being depreciated 2,819,393 2,819,393 Capital assets being depreciated:

Buildings and improvements 2,630,082 ($34,266) 2,595,816 Machinery and equipment 92,202 (92,202)
Vehicles 26,144 26,144
Total capital assets being depreciated 2,748,428 (126,468) 2,621,960 Less accumulated depreciation for:

Buildings and improvements 1,738,444 $64,114 (34,266) 1,768,292 Machinery and equipment 92,202 (92,202)
Vehicles 24,416 1,728 26,144
Total accumulated depreciation 1,855,062 65,842 (126,468) 1,794,436 Net capital assets being depreciated 893,366 (65,842) 827,524 Capital assets, net $3,712,759 ($65,842) $3,646,917

69 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 13 – REDEVELOPMENT AGENCY DISSOLUTION AND SUCCESSOR AGENCY ACTIVITIES (Continued)

E. Long-Term Obligations

The Successor Agency assumed the lo ng-term debt and loans of the fo rmer Redevelopment Agency as of February 1, 2012.

Bond premiums and discounts are defe rred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond discount and gross of the applicable premium. Any differences between refu nded debt and the debt issued to refund it are amortized over the remaining life of either the re funded debt or the refunding debt, whichever is shorter. The deferred charge on refunding is reported as a deferred outflow or deferred inflow of resources, as applicable. Bond issuance costs, other th an prepaid insurance, are expensed in the year incurred.

1. Tax Allocation Bonds and Loans

All of the long-term debt of the Successor Agen cy is comprised of Tax Allocation Bonds and loans issued by the former Redevelopment Agency. The bonds and loans are special obligations of the Agency and are secured only by the Agency’s tax increment revenues. Tax Allocation Bonds and loan transactions were as follows:

Original
Issue Balance Balance Current
Amount June 30, 2022 Additions Retirements June 30, 2023 Portion Tax Allocation Bonds:

Tax Allocation Refunding Bonds Series 2014A

2.00-5.00%, due 6/15/2031 $47,595,000 $30,735,000 $2,730,000 $28,005,000 $3,855,000 Premium 6,429,385 3,403,792 378,199 3,025,593
Tax Allocation Refunding Bonds Series 2014B

2.00-5.00%, due 6/15/2023 6,970,000 1,945,000 1,945,000 Premium 859,238 95,470 95,470
Tax Allocation Refunding Bonds Series 2016

3.00-3.81%, due 6/15/2029 2,685,531 3,227,240 $107,292 3,334,532 Total Tax Allocation Bonds 39,406,502 107,292 5,148,669 34,365,125 3,855,000 Total Successor Agency Debt $39,406,502 $107,292 $5,148,669 $34,365,125 $3,855,000

2. Debt Service Requirements

Debt service requirements are shown below fo r all long-term debt except the Housing Successor loans, because the ultimate repayment te rms cannot be determined at this time as discussed in Note 13.F.5. below:

For the Year Ending June 30 Princi pal (1) Interest Total 2024 $4,524,430 $1,570,820 $6,095,250
2025 3,826,152 1,381,348 5,207,500
2026 3,965,585 1,243,915 5,209,500
2027 3,860,192 1,013,058 4,873,250
2028 4,028,503 852,747 4,881,250
2029-2031 10,485,669 1,131,581 11,617,250
Total $30,690,531 $7,193,469 $37,884,000
(1) Includes unaccreted discount of $649,001.

70 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 13 – REDEVELOPMENT AGENCY DISSOLUTION AND SUCCESSOR AGENCY ACTIVITIES (Continued)

3. 2014 Tax Allocation Bonds, Series A and Series B

On June 1, 2014, the Agency issued $47,595,000 in 2014 Tax Allocation Bonds, Series A.

The proceeds of these bonds, secured by property tax revenues in the Redevelopment Property Tax Trust Fund, were used to refund and defease the outstanding 2001 Tax Allocation Revenue Serial and Term Bonds, a portion of the 2001 Tax Allocation Revenue Capital Appreciation Bonds, a portion of the 2004 Tax Allocation Revenue Bonds and the outstanding balance of the 2006 Subordinate Tax Allocation Bonds. The re funding reduced the total debt service payments over 19 years by $4,048,958 and resulte d in an economic gain (difference between the present values of the debt service payments on the old and new debt) of $4,034,727. The 2006 Bonds were called on June 27, 2014 and the outstanding balance of the defeased 2004 Bonds was $14,420,000 as of June 30, 2023.

With the issuance of the 2014A Bond the Successor Agency entered into a Forward Delivery Bond Purchase Agreement with the Underwrite r for the subsequently issued Series 2014B Refunding Bonds. Under the terms of the Agr eement, the Underwriter agreed to purchase from the Successor Agency all of the 2014B Bonds.

On August 27, 2014, the Successor Agency issued the 2014 Series B Tax Allocation Bonds in the principal amount of $6,970,000. The proceeds of these bonds, secured by property tax revenues in the Redevelopment Property Tax Trus t Fund, are to be used to refund the total amount outstanding the 1999A Tax Allocations Bonds and a portion of the 2004 Tax Allocation Bonds.

The 2014A and 2014B Bonds are secured by the Suc cessor Agency’s property tax revenues in the Redevelopment Property Tax Trust Fund. Annual principal payments on the 2014A Bonds are due December 15, and semi-annual interest payments are due June 15 and December 15, through 2031. At June 30, 2023, the 2014B Bonds were fully paid off.

4. 2016 Subordinate Tax Allocation Refunding Bonds

On August 1, 2016, the Agency issued $2, 685,531 in 2016 Subordinate Tax Allocation Refunding Bonds. The proceeds of these bonds, secured by property tax revenues in the Redevelopment Property Tax Trust Fund, are to be used to refund the total amount outstanding for the 2001 Tax Allocations Bonds. The refunding reduced the total debt service payments over 6 years by $600,000 and resulted in an economic gain (difference between the present value of the debt service payments on the old and new debt) of $377,281. The bonds bear interest rates between 3.0% and 3.81% with in terest payments and pr incipal payments made annually on June of each year commencing 2024 through 2029.

The 2016 Bonds shall not bear interest, but shall accrete in value from their Initial Denominational Amount on the date of issuance thereof to their stated maturity at a compounded interest rate, and sha ll be payable only on maturity thereof. Interest on the 2016 Bonds shall be compounded, commencing on D ecember 15, 2016 and thereafter on each June 15 th and December 15 th in each Bond Year. Accreted value with respect to the 2016 Bonds shall be calculated based on the basis of a 360 day year consisting of twelve 30-day months.

For the fiscal year ended June 30, 2023, the City recorded an accret ed value of $107,292 related to the 2016 Bonds.
71 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 13 – REDEVELOPMENT AGENCY DISSOLUTION AND SUCCESSOR AGENCY ACTIVITIES (Continued)

5. Pledged Revenues

As discussed above, the Agency has pledged all future tax increment revenues, less amounts required to be set aside in the Redevelopment Agency Low and Mode rate Income Housing Fund, for the repayment of the Tax Allocation Bonds. The 1999A, 2001 and 2004 Bonds are considered senior parity obligations, while th e 2014A and 2014B Bonds are subordinated to those Bonds. The pledge of all future ta x increment revenues e nds upon repayment of $37,884,000 remaining debt service on the Bonds above, which is scheduled to occur in 2031.

With the issuance of the 2014B Bonds, project ed tax increment revenues are expected to provide coverage over debt service of 149%-241% over the life of the outstanding Bonds.

With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distributed, and instead the Successor Agency receives payments from the County’s Redevelopment Property Tax Trust Fund (RPTTF) th at are to be used to fund debt service on the Bonds, with no distinction between housing and non-housing revenues.

Beginning in fiscal year 2012, un der the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations. Total tax increment available for distribution to the Successor Agency and other taxing entities for fiscal year 2023 calcula ted by the County Auditor-Controller was $6,591,761, and the total received by the Successo r Agency for fiscal year 2023 debt service was $6,487,022, which represented coverage of 103% of the $6,309,000 of debt service.

With the issuance of the 2014A Bonds in June 2014, the Successor Agency entered into a Custody Agreement with the Contra Costa County Auditor-Controller and the Bond trustee, Wells Fargo Bank, under which the County will remit all amounts payable under the Recognized Obligation Payment Schedule (ROPS) to the Bond trustee. Upon receipt of funds from the County, the Bond trustee uses the funds to first pay the debt service on the Senior Bonds, followed by the debt service for the Subordinate Bonds. Any funds remaining on deposit with the Bond trustee after the debt ser vice payments are then transferred to the Successor Agency for payment of its other non-debt-service obligations.

F. Commitments and Contingencies

State Approval of Enforceable Obligations

The Successor Agency prepares a Recognized Obligation Payment Schedule (ROPS) semi-annually that contains all proposed expenditures for the subsequent six-month period. The ROPS is subject to the review and approval of the Oversight Board as well as the State Department of Finance. Although the State Department of Finance may not question items included on the ROPS in one period, they may question the same items in a future period and disallo w associated activities. The amount, if any, of current obligations that may be denied by the State Department of Finance cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

72 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 14 – JOINT POWERS AGREEMENTS

A. West Contra Costa Integrated Waste Management Authority (WCCIWMA)

WCCIWMA was established in 1991 to coordinate landfill use reduction in the West Contra Costa County Area as mandated by the State of Califor nia. The City was not required to make any contributions to WCCIWMA during fiscal year 2023. The City is represented by one Director. During fiscal year 2023, the City transferred its role as a fiscal agent for WCCIWMA to the Authority, and therefore, the custodial fund was closed at June 30, 2023.

B. West Contra Costa Transpor tation Advisory Committee (WCCTAC)

WCCTAC was established in 1990 to develop regi onal strategies and meet regional requirements established by Measure C and to cooperatively a ddress West Contra Costa County transportation issues. The City’s payments to WCCTAC are in accordance with a formula under which each member Agency pays a proportionate share of the e xpenditures based on the number of voting members representing each Agency. The City has one voting member on the WCCTAC and pays 9.1% of the expenditures
. For fiscal year 2022-2023, the dues paid to WCCTAC were $51,899.

Audited financial statements may be obtained fro m the WCCTAC, 6333 Potrero Avenue, Suite 100, El Cerrito, CA 94530.

NOTE 15 – LEASE LIABILITY

A summary of governmental activities lease transactions for the fiscal year ended June 30, 2023, are as follows:

Balance Balance Current
June 30, 2022 Retirements June 30, 2023 Portion
Lease liability
Library lease $13,655,171 $88,547 $13,566,624 $92,903
Total lease liability $13,655,171 $88,547 $13,566,624 $92,903

The City entered into a lease agreement dated Se ptember 15, 2014 for library space located at 13751 San Pablo Avenue through Februa ry 2063. This agreement does not contain a purchase option. An initial lease liability was recorded in the amount of $13,655,171 as of July 1, 2022. As of June 30, 2023, the value of the lease liability was $13,566,624. Th e City is required to make monthly payments in amounts ranging from $41,416 to $61,052 over the life of the lease. The monthly lease payments are increased annually in the amount of 1%, commencing Ma rch 1, 2024. The lease has an interest rate of 3%. The intangible right-to-use lease asset is amortized over the life of the lease. As of June 30, 2023, the value of the right-to-use lease asset and accu mulated amortization was $13,741,104 and $659,573, respectively.

73 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 15 – LEASE LIABILITIES

The future principal and interest lease payments as of June 30, 2023 were as follows:

For the Year
Ended June 30 Principal Interes t Total
2024 $92,903 $405,745 $498,648
2025 100,785 402,850 503,635 2026 108,956 399,715 508,671 2027 117,427 396,331 513,758 2028 126,207 192,688 318,895 2029-2033 774,277 1,899,080 2,673,357 2034-2038 1,046,251 1,763,475 2,809,726 2039-2043 1,369,668 1,583,381 2,953,049 2044-2048 1,753,229 1,350,455 3,103,684 2049-2053 2,207,053 1,054,951 3,262,004 2054-2058 2,742,918 685,480 3,428,398 2059-2063 3,126,950 229,680 3,356,630 Totals $13,566,624 $10,363,831 $23,930,455

NOTE 16 – COMMITMENTS AND CONTINGENCIES

A. Litigation

The City is subject to litigation arising in the nor mal course of business. In the opinion of the City Attorney there is no presently filed litigation which is likel y to have a material adverse effect on the financial position of the City.

B. Federal and State Grant Programs

The City participates in several federal and State grant programs. These programs are subject to further examination by the grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

C. Encumbrances

The City uses an encumbrance system as an extension of normal budgetary accounting for governmental funds. Under this system, purchase orde rs, contracts, and other commitments for the expenditure of monies are recorded in order to r eserve that portion of applicable appropriations.

Encumbrances outstanding at year-end are recorded as restricted, committed or assigned fund balance, depending on the classification of the resources to be used to liquidate the en cumbrance, since they do not constitute expenditures or liabilities. Outstanding encumbrances at year-end are automatically reappropriated for the following year. Unencumbered and unexpended appropriations lapse at year-end.

74 CITY OF SAN PABLO

NOTES TO BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2023

NOTE 16 – COMMITMENTS AND CONTINGENCIES (Continued)

Encumbrances outstanding as of June 30, 2023 were as follows:

Am ount
Major Funds:

G eneral Fund $2,172,836
Public Works Construction Capital Projects Fund 48,730,625 NonMajor Funds:

Measure K Special Revenue Fund 425,324
N.P.D.E.S. Special Revenue Fund 27,950
Street Lighting and Landscaping Special Revenue Fund 121,791 Developm ent Services Special Revenue Fund 27,095

75 REQUIR

ED SUPPLEMENTARY INFORMATION

REQUIRED SUPPLEMENTARY INFORMATION
Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 Plan's Proportion of the Net Pension Liability 0.33724% 0.41099% 0.40834% 0.41331% 0.42669% Plan's Proportionate Share of the Net Pension Liability $8,334,746 $11,275,238 $14,185,078 $16,292,956 $16,080,684 Plan's Covered Payroll $5,540,261 $7,057,629 $7,383,158 $7,683,846 $6,938,272 Plan's Proportionate Share of the Net Pension Liability as a Percentage of its Covered Payroll 150.44% 159.76% 192.13% 212.04% 231.77% Plan's Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liabilit
y 79.82% 78.40% 74.06% 73.31% 75.26%
Measurement Date 6/30/2019 6/30/2020 6/30/2021 6/30/2022 Plan's Proportion of the Net Pension Liability 0.43442% 0.44311% 0.64074% 0.50150% Plan's Proportionate Share of the Net Pension Liability $17,396,184 $18,690,869 $12,166,401 $21,659,700 Plan's Covered Payroll $11,781,215 $10,348,908 $8,773,911 $7,247,760 Plan's Proportionate Share of the Net Pension Liability as a Percenta
ge of its Covered Payroll 147.66% 180.61% 138.67% 298.85% Plan's Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liabilit
y 75.26% 75.10% 88.29% 70.16%
* Fiscal year 2015 was the 1st year of implementation, therefore only nine years are shown.

Miscellaneous Plan

CITY OF SAN PABLO, A COST-SHARING DEFINED BENEFIT PENSION PLAN

SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY Last 10 Years*
78 REQUIRED SUPPLEMENTARY INFORMATION

Fiscal Year Ended June 30: 2015 2016 2017 2018 2019
Actuarially determined contribution $658,427 $872,009 $999,873 $1,131,296 $1,286,271 Contributions in relation to the actuarially determined contributions (658,427) (872,009) (999,873) (1,131,296) (1,286,271) Contribution deficiency (excess) $0 $0 $0 $0 $0
Covered payroll $7,057,629 $7,383,158 $7,683,846 $6,938,272 $11,781,215 Contributions as a percentage of covered payroll 9.33% 11.81% 13.01% 16.31% 10.92% Fiscal Year Ended June 30: 2020 2021 2022 2023
Actuarially determined contribution $1,767,388 $1,493,135 $2,222,875 $2,453,673 Contributions in relation to the actuarially determined contributions (1,767,388) (1,493,135) (2,222,875) (2,453,673) Contribution deficiency (excess) $0 $0 $0 $0
Covered payroll $10,348,908 $8,773,911 $7,247,760 $16,388,997 Contributions as a percentage of covered payroll 17.08% 17.02% 30.67% 14.97% * Fiscal year 2015 was the 1st year of implementation, therefore only nine years are shown.

Miscellaneous Plan

CITY OF SAN PABLO, A COST-SHARING DEFINED BENEFIT PENSION PLAN

SCHEDULE OF CONTRIBUTIONS
Last 10 Years*

79 REQUIRED SUPPLEMENTARY INFORMATION

Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 Plan's Proportion of the Net Pension Liability 0.36611% 0.38625% 0.38625% 0.39888% 0.41251% Plan's Proportionate Share of the Net Pension Liability $13,732,752 $15,915,059 $20,687,669 $23,833,863 $24,204,484 Plan's Covered Payroll $5,363,191 $5,551,419 $5,433,597 $5,220,618 $5,714,774 Plan's Proportionate Share of the Net Pension Liability as a Percentage of its Covered Payroll 256.06% 286.68% 380.74% 456.53% 423.54% Plan's Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liabilit
y 79.82% 78.40% 74.06% 73.31% 75.26%
Measurement Date 6/30/2019 6/30/2020 6/30/2021 6/30/2022 Plan's Proportion of the Net Pension Liability 0.42057% 0.43224% 0.51771% 0.44558% Plan's Proportionate Share of the Net Pension Liability $26,254,183 $28,797,616 $18,169,077 $33,568,233 Plan's Covered Payroll $11,777,820 $10,017,013 $7,414,125 $7,448,818 Plan's Proportionate Share of the Net Pension Liability as a Percenta
ge of its Covered Payroll 222.91% 287.49% 245.06% 450.65% Plan's Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liabilit
y 75.26% 75.10% 88.29% 76.68%
* Fiscal year 2015 was the 1st year of implementation, therefore only nine years are shown.

Safety Plan

CITY OF SAN PABLO, A COST-SHARING DEFINED BENEFIT PENSION PLAN

SCHEDULE OF THE CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY Last 10 Years*

80 REQUIRED SUPPLEMENTARY INFORMATION

Fiscal Year Ended June 30: 2015 2016 2017 2018 2019
Actuarially determined contribution $1,494,686 $1,663,467 $1,825,704 $2,131,854 $2,208,400 Contributions in relation to the actuarially determined contributions (1,494,686) (1,663,467) (1,825,704) (2,131,854) (2,208,400) Contribution deficiency (excess) $0 $0 $0 $0 $0
Covered payroll $5,551,419 $5,433,597 $5,220,618 $5,714,774 $11,777,820 Contributions as a percentage of covered payroll 26.92% 30.61% 34.97% 37.30% 18.75% Fiscal Year Ended June 30: 2020 2021 2022 2023
Actuarially determined contribution $3,011,431 $2,276,601 $3,661,411 $4,079,810 Contributions in relation to the actuarially determined contributions (3,011,431) (2,276,601) (3,661,411) (4,079,810) Contribution deficiency (excess) $0 $0 $0 $0
Covered payroll $10,017,013 $7,414,125 $7,448,818 $8,222,470 Contributions as a percentage of covered payroll 30.06% 30.71% 49.15% 49.62% * Fiscal year 2015 was the 1st year of implementation, therefore only nine years are shown.

Safety Plan

CITY OF SAN PABLO, A COST-SHARING DEFINED BENEFIT PENSION PLAN

SCHEDULE OF CONTRIBUTIONS
Last 10 Years*

81 REQUIRED SUPPLEMENTARY INFORMATION

CITY OF SAN PABLO AGENT MULTIPLE EMPLOYER RETIREE HEALTH SAVINGS PLAN

SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY/ (ASSET) AND RELATED RATIOS Last 10 fiscal years*
Measurement Date 6/30/2023 6/30/2022 6/30/2021 6/30/2020 6/30/2019 6/30/2018 Total OPEB Liability
Service Cost $606,887 $471,257 $419,630 $389,378 $207,595 $214,910 Interest 855,088 872,071 982,580 1,332,910 892,841 533,653 Differences between expected and actual experience (1,219,193) 25,002 (2,878,555) (115,416) 86,591 Changes of assumptions (2,132,636) 1,537,074 1,550,237 (403,849) 2,819,831 1,177,318 Benefit payments - Including refunds of Employee Contributions (575,884) (579,886) (486,360) (520,071) (511,963) (517,741) Benefit payments - Implicit Rate Subsidy Fulfilled (270,626) (253,372) (168,244) (147,626) (17,700) (17,617) Net change in total OPEB liability/ (asset) (2,736,364) 2,072,146 (580,712) 535,326 3,477,195 1,390,523 Total OPEB liability - beginning 14,785,756 12,713,610 13,294,322 12,758,996 9,281,801 7,891,278 Total OPEB liability - ending (a) $12,049,392 $14,785,756 $12,713,610 $13,294,322 $12,758,996 $9,281,801 Plan fiduciary net position
Contributions - Employer City's Contributions $575,884 $579,886 $486,360 $520,071 $511,963 $517,741 Contributions - Employer Implicit Subsidy 270,626 253,372 168,244 147,626 17,700 17,617 Net investment income 1,513,955 (1,627,313) 3,252,106 284,654 488,698 793,503 Benefit payments - Including refunds of Employee Contributions (575,884) (579,886) (486,360) (520,071) (511,963) (517,741) Benefit payments - Implicit Rate Subsidy Fulfilled (270,626) (253,372) (168,244) (147,626) (17,700) (17,617) Net change in plan fiduciary net position 1,513,955 (1,627,313) 3,252,106 284,654 488,698 793,503 Plan fiduciary net position - be ginning 11,559,964 13,187,277 9,935,171 9,650,517 9,161,819 8,368,316 Plan fiduciary net position - ending (b) $13,073,919 $11,559,964 $13,187,277 $9,935,171 $9,650,517 $9,161,819 Net OPEB liability (asset) - ending (a)-(b) ($1,024,527) $3,225,792 ($473,667) $3,359,151 $3,108,479 $119,982 Plan fiduciary net position as a percentage of the total OPEB liability 108.50% 78.18% 103.73% 74.73% 75.64% 98.71% Covered payroll $18,699,589 $15,999,016 $15,123,759 $12,321,331 $11,991,563 $12,161,432 Net OPEB liability (asset) as a percentage of covered payroll -5.48% 20.16% -3.13% 27.26% 25.92% 0.99% * Fiscal year 2018 was the first year of implementation.

82 REQUIRED SUPPLEMENTARY INFORMATION

Fiscal Year Ended June 30, 2023 2022 2021 2020 2019 2018 Actuarially determined contribution $838,231 $833,258 $744,516 $566,824 $231,532 $178,156 Contributions in relation to the
actuarially determined contribution 846,510 833,258 654,604 667,697 529,663 535,358 Contribution deficiency (excess) ($8,279) $0 $89,912 ($100,873) ($298,131) ($357,202) Covered payroll $18,699,589 $15,999,016 $15,123,759 $12,321,331 $14,310,894 $12,161,432 Contributions as a percentage of
covered payroll 4.53% 5.21% 4.33% 5.42% 3.70% 4.40%
Notes to Schedule
Valuation date: 6/30/2022 6/30/2020 6/30/2020 6/30/2018 6/30/2018 6/30/2016 Methods and assumptions used to determine contribution rates:

Valuation Date 6/30/2022 6/30/2020 6/30/2020 6/30/2018 6/30/2018 6/30/2016 Actuarial Assumptions:

Discount Rate 6.50% 5.71% 6.83% 7.34% 7.36% 7.00%
Inflation 9.25% 9.25% 1.75% 1.75% 2.50% 2.50%
Payroll Growth 2.80% 2.75% 2.75% 2.75% 2.750% 2.875%
Investment Rate of Return 6.50% 5.71% 6.83% 7.34% 7.36% 6.50% Mortality Rate CalPERS Rates CalPERS Rates CalPERS Rates CalPERS Rates CalPERS Rates CalPERS Rates Pre-Retirement Turnover CalPERS Rates CalPERS Rates CalPERS Rates CalPERS Rates CalPERS Rates CalPERS Rates Healthcare Trend Rate 6.5%, trending
down to 3.73%.
7%, trending down to

4.04%.
7%, trending down to

4.04%.
6%, trending down to

3.84%.
7% trending down to

3.84%.
7% in the first year,
trending down to 3%
over 3 years.
* Fiscal year 2018 was the first year of implementation.

CITY OF SAN PABLO AGENT MULTIPLE EMPLOYER RETIREE HEALTH SAVINGS PLAN

SCHEDULE OF CONTRIBUTIONS
Last 10 fiscal years*

83 SUPPL

EMENTAL INFORMATION

NON-MAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE FUNDS

GAS TAX

This fund accounts for revenues and expe nditures received from the State of California under Street and Highways Code Section 2105, 2106, 2107 and 2107.5. The allocations must be spent for street maintenance and construction and a limited amount for engineering.

PUBLIC SAFETY

This fund accounts for sales tax allocations required pursuant to Proposition 172. Th ese funds are used to fund public safety activities.

N.P.D.E.S.

This fund accounts for revenues and expe nditures from assessments levied on all real property in the City in compliance with the provisions of the National Pollution Discharge Elimination System.

DEVELOPMENT SERVICES

This fund accounts for revenues generated from permit and inspection fees and disburses funds to support this activity.

MEASURE C / J

This fund accounts for the portion of the half-cent County-wide sales ta x levied to fund transportation improvements to local streets.

ASSET SEIZURES

This fund accounts for revenues received from both adjudicated and unadjudicated sales of assets seized during drug-related arrests and disburses these funds for authorized public safety activities.

PARATRANSIT

This fund accounts for revenues received from the portion of the half cent County-wide sales tax levied to fund expenditures for paratransit service.

STREET LIGHTING AND LANDSCAPING

This fund accounts for assessments ma de upon parcels of land within the Street Lighting and Landscaping District and disburses funds in accordance with the provisions of the State of California Streets and Highway Code.

87 NON-MAJOR GOVERNMENTAL FUNDS (Continued)

TRAFFIC CONGESTION RELIEF

This fund accounts for the revenues received from the State of California under AB2928. The allocations must be spent on local streets and roads maintenance, rehab ilitation and reconstruction projects according to the State’s Traffic Congestion Relief Plan.

HCD GRANT

This fund accounts for revenues received under State Housing of Community Development and for CALHOME activities approved and subject to state regulations.

MEASURE K

This fund accounts for revenues from Sales Tax Measure K that provides a quarter (1/4) cent sales tax in perpetuity to fund emergency medical services at County Fire Station #70 in San Pablo.

DEBT SERVICE FUND

2018 JPFA LEASE REVENUE BONDS

This fund accounts for capital improvement projects funded by the proceeds of the 2018 JPFA Lease Revenue Bonds.
88 CITY OF SAN PABLO

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2023

SPECIAL REVENUE FUNDS
Development
Gas Tax Public Safety N.P.D.E.S. Services Measure C / J ASSETS
Cash and investments available for operations $1,294,776 $578,500 $959,289 $3,334,489 Due from other governments 200,582 39,493 122,455 563,639 Total Assets $1,495,358 $617,993 $122,455 $959,289 $3,898,128

LIABILITIES
Accounts payable and accrued liabilities $58,007 $7,195 $10,037 $37,340 Due to other funds 80,825
Deposits payable 31,520
Total Liabilities 58,007 7,195 90,862 68,860

FUND BALANCES
Restricted 1,437,351 610,798 31,593 890,429 $3,898,128
Unassigned
Total Fund Balance 1,437,351 610,798 31,593 890,429 3,898,128 Total Liabilities and Fund Balances $1,495,358 $617,993 $122,455 $959,289 $3,898,128 90 Street Traffic
Asset Lighting and Congestion HCD
Seizures Paratransit Landscaping Relief Grant Measure K $204,745 $610,784 $552,890 $134,381 $167,953
33,145 257,543
$204,745 $643,929 $552,890 $134,381 $425,496
$111,537 $117 $71,576 $425,496
232,095
111,537 117 303,671 425,496
93,208 643,812 249,219 $134,381
93,208 643,812 249,219 134,381
$204,745 $643,929 $552,890 $134,381 $425,496
(Continued)

SPECIAL REVENUE FUNDS
91 CITY OF SAN PABLO

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2023
DEBT

SERVICE FUND
Total
2018 Nonmajor
JPFA Lease Governmental
Revenue Bonds Funds
ASSETS
Cash and investments available for operations $7,837,807 Due from other governments 1,216,857
Total Assets $9,054,664

LIABILITIES
Accounts payable and accrued liabilities $2,000 $723,305 Due to other funds 80,825
Deposits payable 263,615
Total Liabilities 2,000 1,067,745

FUND BALANCES
Restricted 7,988,919
Unassigned (2,000) (2,000)
Total Fund Balance (2,000) 7,986,919
Total Liabilities and Fund Balances $9,054,664
92 CITY OF SAN PABLO

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2023

SPECIAL REVENUE FUNDS
Development
Gas Tax Public Safety N.P.D.E.S. Services Measure C / J

REVENUES
Property taxes
Sales tax $159,665 $578,640
Licenses and permits $383,863
Intergovernmental $1,535,871 165,271 $651,249
Charges for services 1,291,550
Use of money and property (12,169) 9,206 68,945
Miscellaneous 7,869 1,000 86,249
Total Revenues 1,531,571 334,142 652,249 1,761,662 647,585

EXPENDITURES
Current:

General Governmen
t
Community:

Development 1,764,606 15,000
Public Works & Engineering 1,377,662 587,511
Police 30,324
Capital outlay 39,207
Debt Service:

Principal retirement
Interest and fiscal charges
Total Expenditures 1,416,869 30,324 587,511 1,764,606 15,000

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 114,702 303,818 64,738 (2,944) 632,585

OTHER FINANCING SOURCES (USES)
Transfers in 1,138,926 59,272 5,608
Transfers (out) (30,673) (342,647) (608)
Total Other Financing Sources (Uses) 1,108,253 (283,375) 5,000 NET CHANGE IN FUND BALANCES 1,222,955 20,443 64,738 (2,944) 637,585 Fund balances (deficits) at beginning of yea
r 214,396 590,355 (33,145) 893,373 3,260,543
FUND BALANCES AT END OF YEAR $1,437,351 $610,798 $31,593 $890,429 $3,898,128 94 SPECIAL REVENUE FUNDS
Street Traffic
Asset Lighting and Congestion HCD
Seizures Paratransit Landscaping Relief Grant Measure K $839,107
$1,037,852
$409,951
($681) 10,408 18,844 $6,291 $36,392
3,444 2,516 20,000
2,763 422,875 877,951 6,291 36,392 1,037,852
9,611 1,700,003
311,942
1,470,511
42,604
311,942 1,522,726 1,700,003
2,763 110,933 (644,775) 6,291 36,392 (662,151)
670,760 663,050
(230,960)
670,760 (230,960) 663,050
2,763 110,933 25,985 (224,669) 36,392 899
90,445 532,879 223,234 224,669 97,989 (899)
$93,208 $643,812 $249,219 $134,381
(Continued)
95 CITY OF SAN PABLO

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2023

DEBT SERVICE
FUND
Total
2018 Nonmajor
JPFA Lease Governmental
Revenue Bonds Funds

REVENUES
Property taxes $839,107
Sales tax 1,776,157
Licenses and permits 383,863
Intergovernmental 2,762,342
Charges for services 1,291,550
Use of money and property $1,746 138,982
Miscellaneous 121,078
Total Revenues 1,746 7,313,079

EXPENDITURES
Current:

General Governmen
t 1,709,614
Community:

Development 2,091,548
Public Works & Engineering 3,435,684
Police 30,324
Capital outlay 81,811
Debt Service:

Principal retirement 255,000 255,000
Interest and fiscal charges 554,788 554,788
Total Expenditures 809,788 8,158,769

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (808,042) (845,690)

OTHER FINANCING SOURCES (USES)
Transfers in 807,086 3,344,702
Transfers (out) (1,127) (606,015)
Total Other Financing Sources (Uses) 805,959 2,738,687
NET CHANGE IN FUND BALANCES (2,083) 1,892,997
Fund balances (deficits) at beginning of yea
r 83 6,093,922
FUND BALANCES AT END OF YEAR ($2,000) $7,986,919
96 CITY OF SAN PABLO

BUDGETED NON-MAJOR GOVERNMENTAL FUNDS

COMBINING SCHEDULE OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2023

SPECIAL REVENUE FUNDS

GAS TAX PUBLIC SAFETY
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Property taxes
Sales tax $156,000 $159,665 $3,665
Licenses and permits
Intergovernmental $1,617,043 $1,535,871 ($81,172) 165,271 165,271 Charges for services
Use of money and property (12,169) (12,169) 9,206 9,206 Miscellaneous 7,869 7,869
Total Revenues 1,617,043 1,531,571 (85,472) 156,000 334,142 178,142

EXPENDITURES
Current:

General Governmen
t
Community:

Development
Public Works & Engineering 1,046,047 1,377,662 (331,615) Police 37,433 30,324 7,109
Capital outlay 69,969 39,207 30,762
Total Expenditures 1,116,016 1,416,869 (300,853) 37,433 30,324 7,109

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 501,027 114,702 (386,325) 118,567 303,818 185,251

OTHER FINANCING SOURCES (USES)
Transfers in 143,960 1,138,926 994,966 59,272 59,272
Transfers (out) (584,840) (30,673) 554,167 (156,000) (342,647) (186,647) Total Other Financing Sources (Uses) (440,880) 1,108,253 1,549,133 (156,000) (283,375) (127,375) NET CHANGE IN FUND BALANCES $60,147 1,222,955 $1,162,808 ($37,433) 20,443 $57,876 Fund balances at beginning of yea
r 214,396 590,355
FUND BALANCES AT END OF YEAR $1,437,351 $610,798
98 SPECIAL REVENUE FUNDS
N.P.D.E.S. DEVELOPMENT SERVICES MEASURE C / J
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) $463,000 $578,640 $115,640
$388,347 $383,863 ($4,484)
$330,000 $651,249 $321,249
925,466 1,291,550 366,084
68,945 68,945
1,000 1,000 3,618 86,249 82,631
330,000 652,249 322,249 1,317,431 1,761,662 444,231 463,000 647,585 184,585 2,335,678 1,764,606 571,072 15,000 (15,000)
706,382 587,511 118,871
706,382 587,511 118,871 2,335,678 1,764,606 571,072 15,000 (15,000) (376,382) 64,738 441,120 (1,018,247) (2,944) 1,015,303 463,000 632,585 169,585 535,037 (535,037) 724,273 (724,273) 5,608 5,608
(86,000) (608) 85,392

535,037 (535,037) 724,273 (724,273) (86,000) 5,000 91,000 $158,655 64,738 ($93,917) ($293,974) (2,944) $291,030 $377,000 637,585 $260,585 (33,145) 893,373 3,260,543
$31,593 $890,429 $3,898,128
(Continued)
99 CITY OF SAN PABLO

BUDGETED NON-MAJOR GOVERNMENTAL FUNDS

COMBINING SCHEDULE OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2023

ASSET SEIZURES PARATRANSIT
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)

REVENUES
Property taxes
Sales tax
Licenses and permits
Intergovernmental $285,653 $409,951 $124,298
Charges for services
Use of money and property ($681) ($681) 10,408 10,408
Miscellaneous 3,444 3,444 2,516 2,516
Total Revenues 2,763 2,763 285,653 422,875 137,222

EXPENDITURES
Current:

General Governmen
t
Community:

Development 315,338 311,942 3,396
Public Works & Engineering
Police
Capital outlay
Total Expenditures 315,338 311,942 3,396

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 2,763 2,763 (29,685) 110,933 140,618

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES 2,763 $2,763 ($29,685) 110,933 $140,618 Fund balances at beginning of yea
r 90,445 532,879
FUND BALANCES AT END OF YEAR $93,208 $643,812

SPECIAL REVENUE FUNDS
100

SPECIAL REVENUE FUNDS

STREET LIGHTING AND LANDSCAPING
Variance
Positive
Budget Actual (Negative)
$843,832 $839,107 ($4,725)
18,844 18,844
20,000 20,000
843,832 877,951 34,119
13,832 9,611 4,221
1,884,082 1,470,511 413,571
59,981 42,604 17,377
1,957,895 1,522,726 435,169
(1,114,063) (644,775) 469,288
1,236,002 670,760 (565,242)
1,236,002 670,760 (565,242)
$121,939 25,985 ($95,954)
223,234
$249,219
101

CUSTODIAL F UNDS
GA
SB Statement 34 requires that Custodial Funds be presented separately from the Government-wide and Fund financial statements.

Custodial Funds account for assets he ld by the City as an agent for indi viduals, governmental entities and non- public organizations.

COMMUNITY ORGANIZATIONS AND ACTIVITIES
This fund accounts for deposits held as an agent for community organizations and activities.

WEST CONTRA COSTA TRANSPORTATION ADVISORY COMMITTEE
This fund accounts for assets belonging to the West Contra Costa Transportation Advisory Committee held as an agent by the City, which maintains the Committee’s books and accounts.

WEST CONTRA COSTA INTEGRATED WASTE MANAGEMENT AUTHORITY This fund accounts for assets belonging to the West Cont ra Costa Integrated Waste Management Authority held as an agent by the City, which maintains the Authority’s books and accounts. The administration of the Authority transferred from the City to the Authority in the middle of fiscal year 2023 and the fund was closed as of June 30, 2023.
103

West Contra Costa West Contra Costa
Community Transportation Integrated
Organizations Advisory Waste Management
and Activities Committee Authority Total
Assets:

Restricted cash and investments $845,752 $12,427,206 $13,272,958 Accounts receivable 97,488 97,488
Prepaids
Total Assets 845,752 12,524,694 13,370,446
Liabilities:

Accounts payable 3,982 189 4,171
Unearned revenue 40,001 40,001
Deposits payable 10,114 10,114
Total Liabilities 14,096 40,190 54,286
Net Position:

Restricted for:

Held for other entities 831,656 12,484,504 13,316,160
Total Net Position $831,656 $12,484,504 $13,316,160

CITY OF SAN PABLO

FIDUCIARY CUSTODIAL FUNDS

COMBINING STATEMENT OF FIDUCIARY NET POSITION
JUNE 30, 2023
104
West Contra Costa West Contra Costa
Community Transportation Integrated
Organizations Advisory Waste Management
and Activities Committee Authority Total
Additions:

Bingo revenues $162,940 $162,940
Member contributions $556,329 556,329
Grants and contributions 5,034,810 5,034,810
Charges for services 26,048 $540,703 566,751
Interest and other 14,084 154,696 7,537 176,317
Total Additions 203,072 5,745,835 548,240 6,497,147
Deductions:

Personnel-related 980,498 401,942 1,382,440
Professional services 363,135 171,765 534,900
Program-related 186,163 688,072 99,738 973,973
Transfer to WCCIWMA 2,348,065 2,348,065
Total Deductions 186,163 2,031,705 3,021,510 5,239,378
Change in net position 16,909 3,714,130 (2,473,270) 1,257,769 Net Position - Beginning 814,747 8,770,374 2,473,270 12,058,391 Total Net Position $831,656 $12,484,504 $13,316,160

CITY OF SAN PABLO

FIDUCIARY CUSTODIAL FUNDS

COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION JUNE 30, 2023
105

STATISTICAL SECTION

This part of the City’s Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City’s overall financial health. In contrast to the fi nancial section, the statistical section information is not subject to independent audit.

Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial performance and wellbeing have changed over time:

1. Net Position by Component

2. Changes in Net Position

3. Fund Balances of Governmental Funds

4. Changes in Fund Balance of Governmental Funds

Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant local revenue source, the property tax:

1. Assessed and Estimated Actual Value of Taxable Property

2. Property Tax Rates, All Overlapping Governments

3. Principal Property Taxpayers

4. Property Tax Levies and Collections

Debt Capacity
These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future:

1. Ratio of Outstanding Debt by Type

2. Computation of Direct and Overlapping Debt

3. Computation of Legal Bonded Debt Margin

4. Bonded Debt Pledged Revenue Coverage, Redevelopment Agency Tax Allocation Bonds

5. Continuing Disclosure Requirements - Debt Service Coverage Schedule

Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place:

1. Demographic and Economic Statistics

2. Principal Employers

Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs:

1. Full-Time Equivalent City Government Employees by Function

2. Operating Indicators by Function/Program

3. Capital Asset Statistics by Function/Program

Sources
Unless otherwise noted, the information in these schedules is derived from the Annual Financial Reports for the relevant year.
107

CITY OF SAN PABLO
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2014 2015 (A) 2016 2017 2018 2019 2020 2021 2022 2023
Governmental activities
Net investment in
capital assets $58,716,354 $59,671,326 $59,552,820 $65,203,760 $74,150,591 $86,551,977 $105,886,032 $94,823,104 $110,624,020 $113,417,146 Restricted 24,793,010 24,843,522 25,307,852 25,912,314 12,096,519 13,029,241 14,094,165 20,513,642 19,239,898 24,542,022 Unrestricted 21,808,206 30,508,198 41,969,726 39,526,263 46,421,552 42,547,901 31,228,713 33,595,353 30,488,187 45,070,317 Total governmental activities
net position $105,317,570 $115,023,046 $126,830,398 $130,642,337 $132,668,662 $142,129,119 $151,208,910 $148,932,099 $160,352,105 $183,029,485 (A) The City implemented the provisions of GASB Statements 68 and 71 in fiscal year 2015, which required the restatement of net position, however, amounts prior to 2015 have not been restated.
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
2014 2015
(A)
2016 2017 2018 2019 2020 2021 2022 2023
Thousands
Net investment in capital assets Restricted Unrestricted 109
Fiscal Year Ended June 30,
2014 2015(b) 2016 2017
Expenses
Governmental Activities:

General Government $5,918,919 $5,868,035 $10,749,217 $11,105,576 Community
Recreation 1,306,695 1,417,109 1,613,344 333,076
Development 1,115,441 1,538,176 1,351,207 4,332,370
Housing 12,100 23,000 17,793
Public Works & Engineering 7,304,089 9,591,938 7,253,853 7,970,136 Police 14,959,000 15,207,587 13,239,813 17,438,358
Interest and fiscal charges 1,069,642 1,035,279 925,564 Total Governmental Activities Expenses 30,616,244 34,692,487 35,265,713 42,122,873 Program Revenues
Governmental Activities:

Charges for Services:

General Government 522,654 612,276 435,262 1,119,770
Community:

Recreation 236,757 321,941 334,418 127,698
Development 561,699 483,379 504,454 1,154,979
Public Works & Engineering 168,230 225,034 187,923 138,126 Police 396,612 666,228 569,627 522,678
Operating Grants and Contributions 1,962,725 2,064,275 1,679,873 929,109 Capital Grants and Contributions 7,078,669 5,202,454 4,562,945 1,438,055 Total Government Activities Program Revenues 10,927,346 9,575,587 8,274,502 5,430,415 Net (Expense)/Revenue
Governmental Activities (19,688,898) (25,116,900) (26,991,211) (36,692,458) General Revenues and Other
Changes in Net Position
Governmental Activities:

Taxes:

Property Taxes 1,515,310 1,676,678 1,562,739 2,011,222
Incremental Property Taxes
Sales Taxes 2,912,396 3,803,069 4,168,439 4,601,301
In-Lieu Sales Tax 548,465 490,239 406,799
Utility Users Tax 2,553,955 2,467,509 2,572,145 2,686,980 Transient Occupancy Taxes 424,570 455,006 523,213 523,513 Franchise Taxes 719,358 884,123 790,828 935,005
Payment in Lieu of taxes 1,828,490 1,865,060 1,902,362 1,940,410 Casino contract revenues 18,291,111 19,701,338 22,986,063 24,213,462 Other Taxes (a) 114,542 132,130 157,190 82,602
Intergovernmental unrestricted:

Motor Vehicle In-Lieu Fees 1,713,415 1,961,310 2,158,330 2,317,615 Use of Money and Property 246,226 633,516 865,048 190,354 Gain on Sale of Property
Miscellaneous 320,447 545,773 705,407 1,001,933
Special item - assets transferred from Successor Agency 1,534,820 206,625 Extraordinary items - assets transferred to/liabilities assumed from (by) Successor Agency
assumed from EDC
Total Governmental Activities 32,723,105 34,822,376 38,798,563 40,504,397 Change in Net Position after Special Item
Governmental Activities $13,034,207 $9,705,476 $11,807,352 $3,811,939 (a) Includes business licenses previously included in Other Taxes. (b) The City implemented the provisions of GASB Statements 68 and 71 in fiscal year 2015, however amounts prior to 2015 have not been restated.

CITY OF SAN PABLO
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
110
2018 2019 2020 2021 2022 2023
$10,840,251 $12,006,415 $16,802,527 $16,770,379 $16,172,199 $18,311,064 256,371 311,538 3,368,316 2,669,889 2,478,905 2,239,499 4,961,457 5,886,370 2,388,458 8,883,785 5,276,529 2,932,229 23,810 28,930 83,482 92,370 117,624 1,595,272
7,784,816 8,622,447 7,392,827 7,043,052 7,972,673 11,212,044 18,525,592 20,525,816 22,166,487 22,209,621 23,239,924 15,993,438 1,331,646 1,558,865 1,162,515 1,150,307 3,928,465 2,168,730 43,723,943 48,940,381 53,364,612 58,819,403 59,186,319 54,452,276 524,488 236,032 404,002 252,246 242,439
52,022 40,957 41,665 20,035 46,059
1,216,911 1,133,536 1,161,264 845,607 1,361,181 1,674,951 246,289 645,376 277,611 191,144 846,732 902,750
1,009,555 900,657 695,885 819,362 1,070,929 785,117
1,271,647 2,325,867 3,227,455 2,460,329 6,883,452 6,910,861 1,955,492 7,096,432 2,483,913 1,070,768 7,428,316 9,804,818 6,276,404 12,142,825 8,123,825 5,791,212 17,862,891 20,366,995 (37,447,539) (36,797,556) (45,240,787) (53,028,191) (41,323,428) (34,085,281) 2,442,226 2,943,210 3,354,755 2,410,402 2,750,176 3,210,634 4,293,283 3,854,079 4,119,326 4,801,115 5,049,824 5,892,559 2,650,707 2,548,455 2,532,147 2,731,594 2,864,920 3,053,827 565,474 636,322 235,597 666,643 569,390 552,757
900,299 947,557 901,680 927,262 979,688 661,596
1,979,218 2,018,802 2,059,177 2,100,360 2,142,368 2,185,215 26,197,153 27,735,698 21,735,943 26,811,866 29,966,698 30,558,431 87,911 83,611 116,591 123,084 87,679 46,499
2,487,919 2,666,964 2,844,696 2,994,786 3,126,924 3,378,602 849,714 2,404,371 2,813,630 378,818 262,365 3,933,938
4,198,761 9,061 2,867,738
834,155 418,944 620,873 2,606,689 4,934,341 420,865
12,540,358
43,288,059 46,258,013 53,874,773 50,751,380 52,743,434 56,762,661 $5,840,520 $9,460,457 $8,633,986 ($2,276,811) $11,420,006 $22,677,380 Fiscal Year Ended June 30,
111
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
General Fund
Nonspendable $45,219 $5,402,621 $5,384,995 $5,367,811 $5,341,934 $5,318,053 $5,336,415 $5,347,633 $12,825 $61,742 Restricted 1,000,000 3,753,733 6,156,109
Assigned 763,614 145,329 1,315,623 895,605 1,924,937 5,018,720 2,705,823 2,705,823 7,825,000 15,248,058 Committed 1,440,600
Unassigned 31,512,493 37,596,248 50,715,535 54,246,048 50,765,118 50,750,360 49,537,936 55,326,474 56,568,821 54,372,610 Total General Fund $32,321,326 $43,144,198 $57,416,153 $60,509,464 $58,031,989 $61,087,133 $57,580,174 $64,379,930 $68,160,379 $77,279,119 (a) All Other Governmental Funds
Restricted $9,387,695 $17,266,389 $17,900,895 $18,551,388 $34,725,598 $33,584,302 $21,940,445 $19,513,642 $47,370,557 $47,109,436 Assigned 9,082,664 4,010,660 300,282
Unassigned (113,266) (2,192,718) (782,655) (3,973,966) (399,857) (34,044) (2,000) Total all other governmental funds $18,470,359 $21,277,049 $18,087,911 $16,358,670 $33,942,943 $29,610,336 $21,540,588 $19,513,642 $47,336,513 $47,107,436 (a) (a) The change in total fund balance for the General Fund and other governmental funds is explained in the Management's Discussion & Analysis.

Fiscal Year Ended June 30,

CITY OF SAN PABLO
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Thousands
Nonspendable Restricted Committed Assigned Unassigned
112

CITY OF SAN PABLO
Changes in Fund Balance of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
2014 2015 2016 2017 2018
Revenues
Property taxes $1,515,310 $1,676,678 $1,562,739 $1,716,156 $2,063,312 Sales taxes 3,272,038 4,188,421 5,019,746 5,002,384 4,722,680 In-lieu sales tax 548,465 490,239 406,799
Utility users tax 2,553,955 2,467,509 2,572,145 2,686,980 2,650,707 Casino contract revenues 17,951,434 19,390,922 22,665,705 23,876,317 25,826,897 Other taxes 3,064,960 3,304,319 3,334,876 3,474,030 3,532,902 Licenses and permits 339,677 310,416 320,358 337,145 370,256 Fines and forfeits 178,497 250,670 253,290 242,120 202,854 Intergovernmental 10,466,512 9,707,728 7,946,402 4,936,968 6,032,257 Charges for services 1,622,447 1,435,849 1,347,066 1,547,551 2,053,387 Use of money and property 494,277 1,076,231 1,303,736 1,269,461 1,279,434 Miscellaneous 265,763 211,850 296,132 881,219 968,047
Total Revenues 42,273,335 44,510,832 47,028,994 45,970,331 49,702,733 Expenditures
Current:

General government 5,798,844 6,151,008 10,812,295 10,629,175 10,446,232 Community
Recreation 1,173,065 1,321,969 1,490,995 73,015
Development 1,097,422 1,572,053 1,417,014 4,203,880 4,868,887 Housing 12,100 23,000 17,793 23,810
Public Works & Engineering 3,153,976 3,458,187 3,360,427 4,064,962 4,618,334 Police 14,858,753 15,435,553 13,753,176 14,927,935 16,028,684 Capital outlay 2,912,525 18,095,578 4,215,533 9,598,715 13,758,852 Debt service:

Principal repayment 85,000 354,982 470,234 1,480,988
Interest and fiscal charges 778,547 737,339 620,552 1,019,327 Total Expenditures 29,006,685 46,897,895 36,164,761 44,606,261 52,245,114 Excess (deficiency) of revenues over
(under) expenditures 13,266,650 (2,387,063) 10,864,233 1,364,070 (2,542,381) Other Financing Sources (Uses)
Transfers in 3,904,184 7,075,398 5,721,373 11,860,143 15,548,139 Transfers (out) (3,904,184) (7,075,398) (5,721,373) (11,860,143) (15,548,139) Proceeds or gain from sale of property 218,584
Leases 2,491,334
Issuance of debt 1,141,738 15,810,000 15,325,000
Total Other Financing Sources (Uses) 1,141,738 15,810,000 218,584 17,816,334 Special and Extraordinary Items
Assets transferred to Housing Successor 358,210 206,625 Assets assumed by City from EDC
Total Special and Extraordinary Items 358,210 206,625
Change in Fund Balance $14,766,598 $13,629,562 $11,082,817 $1,364,070 $15,273,953 Debt service as a percentage of
noncapital expenditures N/A 2.9% 3.4% 3.1% 6.6%
Fiscal Year Ended June 30,
114

2019 2020 2021 2022 2023
$2,616,083 $2,375,632 $2,094,996 $2,417,901 $2,567,573
4,307,705 4,598,308 5,264,058 5,554,432 6,471,199
2,548,455 2,532,147 2,731,594 2,864,920 3,053,827
27,365,635 21,345,016 26,442,053 29,564,500 30,144,568
3,686,292 3,313,045 3,817,349 3,779,125 3,446,067
370,063 390,927 369,813 402,198 383,863
274,696 274,605 230,215 288,531 270,439
11,549,795 8,919,794 8,438,419 18,130,170 21,039,836
1,909,493 1,607,626 1,455,496 1,974,157 1,879,222
3,705,125 4,131,811 1,356,725 1,338,354 3,533,053
723,384 520,519 4,528,879 4,779,682 3,069,044
59,056,726 50,009,430 56,729,597 71,093,970 75,858,691
11,557,521 14,432,447 15,126,284 14,819,312 17,970,320
72,048 3,244,089 2,521,481 2,334,965 2,580,077
5,753,056 1,645,169 1,688,066 1,781,014 2,091,548
28,930 83,482 92,370 117,624 1,595,272
4,130,144 4,303,635 4,710,959 4,862,452 5,209,504
18,127,752 18,663,853 19,305,127 20,303,996 22,127,439
18,621,834 17,587,385 6,187,747 9,571,186 12,024,575
971,063 909,367 1,174,446 10,775,013 1,082,459
1,238,996 1,162,515 1,150,307 3,648,306 2,287,834
60,501,344 62,031,942 51,956,787 68,213,868 66,969,028
(1,444,618) (12,022,512) 4,772,810 2,880,102 8,889,663
17,446,437 30,503,098 13,502,244 20,775,175 11,573,220
(17,446,437) (30,503,098) (13,502,244) (20,775,175) (11,573,220) 9,110
34,043,108
34,052,218
(5,329,000)
(5,329,000)
($1,444,618) ($12,022,512) $4,772,810 $31,603,320 $8,889,663

5.2% 4.6% 5.1% 24.5% 6.0%
Fiscal Year Ended June 30,
115
Value of Redevelopment Agency Property Total
Value of City Property Subject to Local Tax Rate Subject to Local Tax Rate Direct Fiscal Secured Unsecured Tenth Total Estimated Tax
Year Propert y Property Total Township Le gacy Total Assessed (a) Full Market (a) Rate (b) 2014 $330,899,170 $44,270,604 $375,169,774 $834,582,578 $78,654,747 $913,237,325 $1,288,407,099 $1,288,407,099 0.097% 2015 335,045,384 44,184,743 379,230,127 960,892,754 124,112,087 1,085,004,841 1,464,234,968 1,464,234,968 0.108% 2016 463,757,740 46,435,464 510,193,204 1,071,145,726 146,395,899 1,217,541,625 1,727,734,829 1,727,734,829 0.108% 2017 464,841,204 45,076,140 509,917,344 1,161,517,848 168,678,121 1,330,195,969 1,840,113,313 1,840,113,313 0.108% 2018 474,524,495 45,161,702 519,686,197 1,260,975,983 193,665,594 1,454,641,577 1,974,327,774 1,974,327,774 0.108% 2019 485,479,027 48,519,738 533,998,765 1,353,539,647 214,666,027 1,568,205,674 2,102,204,439 2,102,204,439 0.107% 2020 483,615,982 47,196,414 530,812,396 1,446,048,102 237,976,780 1,684,024,882 2,214,837,278 2,214,837,278 0.107% 2021 491,998,972 45,595,290 537,594,262 1,534,108,689 254,278,937 1,788,387,626 2,325,981,888 2,325,981,888 0.107% 2022 534,812,243 45,789,861 580,602,104 1,602,473,068 268,531,738 1,871,004,806 2,451,606,910 2,451,606,910 0.082% 2023 525,072,620 49,421,972 574,494,592 1,726,594,452 321,020,043 2,047,614,495 2,622,109,087 2,622,109,087 0.082% Source: Contra Costa County Auditor Controller Office Certificate of Assessed Valuations (a) The State Constitution requires property to be assessed at one hundred percent of the mos t
recent purchase price, plus an increment of no more than two percent annually, plus any local over-rides. These values are considered to be full market values. (b) California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% an d allocates a portion of that amount, by an annual calculation, to all the taxing entities within a tax rate area.

CITY OF SAN PABLO

ASSESSED AND ESTIMATED ACTUAL

VALUE OF TAXABLE PROPERTY

LAST TEN FISCAL YEARS
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
$2.75
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Millions
City - Secured Property City - Unsecured Property Redevelopment Agency 116

CITY OF SAN PABLO

PROPERTY TAX RATES

ALL OVERLAPPING GOVERNMENTS

LAST TEN FISCAL YEARS
Direct and Overlapping Rates
Direct and Overlapping Rates
Basic Bay East Bay West Total City's Redevelop-
County Area Regional Contra Costa Direct and Share of ment Total Fiscal Wide Rapid Park Unified School Community Overlapping 1% Levy per Agency Direct Year Levy (a) Transit District District College Rates (b) Prop 13 (c) Rate (d) Rate (e) 2014 1.00000 0.00750 0.00780 0.28180 0.01330 1.31040 0.09828 0.00000 0.09750 2015 1.00000 0.00450 0.00850 0.28030 0.02520 1.31850 0.09828 0.00000 0.09749 2016 1.00000 0.00260 0.00670 0.27810 0.02200 1.30940 0.09828 0.00000 0.10805 2017 1.00000 0.00800 0.00320 0.26040 0.01200 1.28360 0.09828 0.00000 0.10792 2018 1.00000 0.00840 0.00210 0.23970 0.01140 1.26160 0.09828 0.00000 0.10755 2019 1.00000 0.00700 0.00210 0.02390 0.01100 1.04400 0.09828 0.00000 0.10735 2020 1.00000 0.01200 0.00940 0.23790 0.01880 1.27810 0.09828 0.00000 0.10738 2021 1.00000 0.01390 0.00140 0.24320 0.01610 1.27460 0.09828 0.00000 0.10724 2022 1.00000 0.00600 0.00200 0.29390 0.01760 1.31950 0.09828 0.00000 0.08190 2023 1.00000 0.01400 0.00580 0.25640 0.01620 1.29240 0.09828 0.00000 0.08210 Source: HdL Coren & Cone, Contra Costa County Assessor
(a) In 1978, California voters passed Proposition 13 which set the prope rty tax rate at a 1% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the, 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds. (b) Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all City property owners.
(c) City's share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the City.

ERAF general fund tax shifts may not be included in tax ratio figures. (d) Redevelopment Agency (RDA) rate is based on the largest RDA tax rate area (TRA) and includes only rate(s) from indebtedness adopted prior to 1989 per California State statute. RDA direct and overlapping rates are applied only to the incremental property values.

The approval of ABX1 26 eliminated Redevelopment from the State of California for fiscal year 2013 and years thereafter. (e) Total Direct Rate is the weighted average of all individual direct rates applied by the government preparing the statistical section information and excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes revenue generated from the former redevelopment tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/2013. For the purposes of this report, residual revenue is assumed to be distributed to the City in the same proportions as general fund revenue. $0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Per Hundred $
Direct and Overlapping Rates
Community College West Contra Costa Unified School District East Bay Regional Park District Bay Area Rapid Transit Basic County Wide Levy 117

CITY OF SAN PABLO
Principal Property Taxpayers
Current Year and Nine Years Ago
2022-2023 2013-2014
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Save Mart Portfolio Owner NLP $40,371,523 1 1.54%
Lytton Rancheria of CA 27,385,861 2 1.04%
Donahue Schriber Realty Group 25,277,894 3 0.96% $21,752,504 1 1.69% Giant Development LP 23,052,344 4 0.88%
The Marlborough One Family LP 20,145,000 5 0.77%
CC San Pablo LP 18,487,439 6 0.71% 14,667,490 2 1.14%
San Pablo Retail Partners II 17,563,564 7 0.67% 14,426,257 3 1.12% Menlo Land and Capital XII LLC 14,190,905 8 0.54%
Stiefvater Orchards LP 12,902,355 9 0.49%
Public Storage INC 12,342,872 10 0.47% 10,640,147 6 0.83% 3002 Giant Road LLC 14,079,966 4 1.09%
Save Mart Supermarket 13,475,017 5 1.05%
Lucky NoCal Investor LLC 10,308,337 7 0.80%
Gordon Creekside LLC 9,399,168 8 0.73%
WEC 97K-31 Investment Trust 6,864,750 9 0.53%
Vale Property LLC 6,321,881 10 0.49%
Subtotal $211,719,757 8.1% $121,935,517 9.5%
Total Assessed Valuation:

Fiscal Year 2022-2023 $2,622,109,087
Fiscal Year 2013-2014 $1,288,407,099
Source: HdL Coren & Cone, Contra Costa County Assessor
118

CITY OF SAN PABLO

PROPERTY TAX LEVIES AND COLLECTIONS

LAST TEN FISCAL YEARS
212
212
213
Redevelopment Total Percent
City Agency Property of Total
Property Tax Property Tax Tax Levied Tax
Fiscal Levied and Levied and and Collections
Year Collected (1) Collected Collected (2) to Tax Levy
2014 $677,924 0 (3) $677,924 100%
2015 836,806 0 (3) 836,806 100%
2016 719,960 0 (3) 719,960 100%
2017 872,985 0 (3) 872,985 100%
2018 1,232,993 0 (3) 1,232,993 100%
2019 1,819,023 0 (3) 1,819,023 100%
2020 1,536,711 0 (3) 1,536,711 100%
2021 1,255,899 0 (3) 1,255,899 100%
2022 1,580,496 0 (3) 1,580,496 100%
2023 1,728,466 0 (3) 1,728,466 100%
NOTES: (1) Excludes Street Lighting and Landscaping, N.P. D.E.S., Oak Park Maintenance District Property Tax and Redevelopment Agency.
(2) During fiscal year 1995, the County began providing the City 100% of its tax levy under an agreement which allows the County to keep all interest and delinquency charges collected. (3) The Redevelopment Agency was dissolved on January 31, 2012. $0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Millions
City Property Tax Levied and Collected
119

CITY OF SAN PABLO
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
Tax Lease Total Percenta ge
Fiscal Allocation SERAF Leases and Revenue Governmental of Personal Per Year Bonds Loan Loans Bonds Activities Income (a) Capita (a) 2014 0 (b) 0 (b) $9,906,655 $0 $9,906,655 1.99% 339
2015 0 (b) 0 (b) 10,112,750 15,810,000 25,922,750 5.03% 879 2016 0 (b) 0 (b) 10,265,708 15,600,000 25,865,708 5.19% 839 2017 0 (b) 0 (b) 10,410,486 15,290,000 25,700,486 5.16% 828 2018 0 (b) 0 (b) 12,053,151 30,295,000 42,348,151 8.50% 1,364 2019 0 (b) 0 (b) 11,731,957 29,965,000 41,696,957 7.35% 1,311 2020 0 (b) 0 (b) 1,292,438 29,630,000 30,922,438 5.22% 984 2021 0 (b) 0 (b) 697,992 29,050,000 29,747,992 4.63% 958 2022 0 (b) 0 (b) 14,274,083 52,433,481 66,707,564 9.62% 2,117 2023 0 (b) 0 (b) 13,566,624 51,939,377 65,506,001 8.52% 2,093 Sources: Cit y of San Pablo
California Employment Development Department
(a) See Schedule "Demographic and Economic Statistics" for personal income and population data. (b) The Redevelopment Agency was dissolved as of January 31, 2012 and its debt assumed by a Successor Agency as of February 1, 2012. $0
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
$80,000,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Governmental Activities
120

CITY OF SAN PABLO
2022-23 Assessed Valuation: $2,379,415,189
Total Debt City’s Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/23 % Applicable (1) Debt 6/30/23 Bay Area Rapid Transit District $2,484,285,000 0.250% $ 6,210,713 Contra Costa Community College District 649,015,000 0.946 6,139,682 West Contra Costa Unified School District 1,188,146,381 6.110 72,595,744 West Contra Costa Healthcare District Parcel Tax Obligations 43,000,000 5.761 2,477,230 East Bay Regional Park District 175,955,000 0.395 695,022 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT $88,118,391
DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Alameda-Contra Costa Transit District Certificates of Participation $11,220,000 0.749% $ 84,038 Contra Costa County General Fund Obligations 193,515,000 0.943 1,824,846 West Contra Costa Unified School District Certificates of Participation 4,850,000 6.110 296,335 City of San Pablo Lease Revenue Bonds 48,535,000 100 48,535,000 TOTAL GROSS DIRECT AND OVERLAPPING GENERAL FUND DEBT $50,740,219 Less: Contra Costa County supported obligations 480,264 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT $50,259,955 OVERLAPPING TAX INCREMENT DEBT (Successor Agency to San Pablo Redevelopment Agency):

Tax Allocation Bonds Refunding Series 2014A $28,005,000 100. % $28,005,000 Tax Allocation Bonds Refunding Series 2016 2,685,531 100 2,685,531 TOTAL OVERLAPPING TAX INCREMENT DEBT $30,690,531
TOTAL DIRECT DEBT $48,535,000
TOTAL GROSS OVERLAPPING DEBT $121,014,141
TOTAL NET OVERLAPPING DEBT $120,533,877
GROSS COMBINED TOTAL DEBT $169,549,141 (2)
NET COMBINED TOTAL DEBT $169,068,877
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable perce ntages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value.
(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations. Qu alified Zone Academy Bonds are included based on principal due at maturity.

Ratios to 2022-23 Assessed Valuation:

Total Direct and Overlapping Tax and Assessment Debt ....................... 3.70% Direct Debt ($48,535,000)..................................................................... 2.04% Gross Combined Total Debt ................................................................... 7.13% Net Total Debt........................................................................................ 7.11% Ratios to Redevelopment Successor Agency Incremental Valuation ($2,047,614,495):

Overlapping Tax Increment Debt .....................................................1.50%

CITY OF SAN PABLO

COMPUTATION OF

DIRECT AND OVERLAPPING DEBT
JUNE 30, 2023
121

CITY OF SAN PABLO

COMPUTATION OF LEGAL BONDED DEBT MARGIN
JUNE 30, 2023
ASSESSED VALUATION:

Secured property assessed value, net of
exempt real property $2,622,109,087
BONDED DEBT LIMIT (3.75% OF ASSESSED VALUE) (a) $98,329,091 AMOUNT OF DEBT SUBJECT TO LIMIT:

Total Bonded Debt $65,506,001
Less Tax Allocation Bonds and SERAF Loan
not subject to limit 18,185,000
Amount of debt subject to limit 47,321,001
LEGAL BONDED DEBT MARGIN $145,650,092
Total net debt
Total Net Debt Legal applicable to the limit
Fiscal Debt Applicable to Debt as a percentage
Year Limit Limit Margin of debt limit
2014 $48,315,266 $0 $48,315,266 0.00%
2015 54,908,811 0 54,908,811 0.00%
2016 64,790,056 0 64,790,056 0.00%
2017 69,004,249 0 69,004,249 0.00%
2018 74,037,292 0 74,037,292 0.00%
2019 78,832,666 0 78,832,666 0.00%
2020 83,056,398 0 83,056,398 0.00%
2021 87,224,321 0 87,224,321 0.00%
2022 91,935,259 33,993,481 125,928,740 26.99%
2023 98,329,091 47,321,001 145,650,092 32.49%
NOTE:
(a) California Government Code, Section 43605 sets the debt limit at 15%. The Code section was enacted prior to the change in basing assessed value to full market value when it was previously 25% of market value. Thus, the limit shown as

3.75% is one-fourth the limit to account for the adjustment of showing assessed valuation at full cash value.
122

CITY OF SAN PABLO

BONDED DEBT PLEDGED REVENUE COVERAGE

REDEVELOPMENT AGENCY TAX ALLOCATION BONDS

LAST TEN FISCAL YEARS
Net
Redevelopment Less Low and Tax Debt Service Requirements Fiscal Agency Property Moderate Income Increment
Year Tax Increments Housing Set-Aside Revenue Principal Interest Total Coverage 2014 $4,695,660 (b) 0 (a) $4,695,660 $3,575,000 $3,931,553 $7,506,553 (c) 0.63 (b) 2015 5,132,531 (b) 0 (a) 5,132,531 3,260,000 3,044,176 6,304,176 (c) 0.81 (b) 2016 8,159,295 (b) 0 (a) 8,159,295 1,525,000 2,849,011 4,374,011 (c) 1.87 (b) 2017 11,150,519 (b) 0 (a) 11,150,519 6,787,381 2,811,164 9,598,545 (c) 1.16 (b) 2018 7,249,096 (b) 0 (a) 7,249,096 320,000 2,647,300 2,967,300 (c) 2.44 (b) 2019 2,325,842 (b) 0 (a) 2,325,842 1,560,000 2,468,600 4,028,600 (c) 0.58 (b) 2020 8,350,525 (b) 0 (a) 8,350,525 7,005,000 2,344,875 9,349,875 (c) 0.89 (b) 2021 8,247,483 (b) 0 (a) 8,247,483 4,255,000 2,070,500 6,325,500 (c) 1.30 (b) 2022 8,152,914 (b) 0 (a) 8,152,914 4,475,000 1,857,750 6,332,750 (c) 1.29 (b) 2023 6,487,022 (b) 0 (a) 6,487,022 4,675,000 1,634,000 6,309,000 (c) 1.03 (b) (a) As part of the dissolution, the Redevelopment Agency is no l onger required to make the low and moderate income housing set-aside. (b) Beginning in fiscal year 2013, tax increment reported in th is table is the amount calculated by the County Auditor-Controller.

Under the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations, and is required to use other resources on hand to fund debt service prior to using the tax increment received.
(c) Includes debt service paid by the Successor Agency. $0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Thousands
Net Tax Increment Revenue Total Debt Service Requirements 123

CITY OF SAN PABLO

DEBT SERVICE COVERAGE SCHEDULE

LAST TEN FISCAL YEARS

TENTH TOWNSHIP PROJECT AREA
Debt Service On
Fiscal
Year
Gross Tax
Revenues
Housing
Set Aside
Pledged Tax
Revenues 1999 Bonds
2001 and
2004 Tenth
Township
Bonds 2006 Bonds
2014 A&B
Bonds
Total Debt
Service
Debt Service
Coverage
2014 $4,291,235 (b) $0 (a) $4,291,235 $893,377 $3,652,390 $2,683,687 $0 $7,229,454 (c) 0.59 2015 4,545,428 (b) 0 (a) 4,545,428 0 843,427 0 5,186,996 6,030,423 (c) 0.75 2016 N/A (b) 0 (b) N/A (b) 0 1,050,812 0 3,372,250 4,423,062 (c) N/A 2017 N/A (b) 0 (b) N/A (b) 0 5,296,795 0 4,301,750 9,598,545 (c) N/A 2018 N/A (b) 0 (b) N/A (b) 0 1,922,750 0 5,379,550 7,302,300 (c) N/A 2019 N/A (b) 0 (b) N/A (b) 0 882,250 0 3,146,350 4,028,600 (c) N/A 2020 N/A (b) 0 (b) N/A (b) 0 3,032,125 0 6,317,750 9,349,875 (c) N/A 2021 N/A (b) 0 (b) N/A (b) 0 0 0 6,325,500 6,325,500 (c) N/A 2022 N/A (b) 0 (b) N/A (b) 0 0 0 6,332,750 6,332,750 (c) N/A 2023 N/A (b) 0 (b) N/A (b) 0 0 0 6,309,000 6,309,000 (c) N/A

LEGACY PROJECT AREA
Fiscal Year
Gross Tax
Revenues
Housing
Set Aside
Available
Revenue
Debt Service
on 2004
Legacy
Bonds
Debt Service
Coverage
2014 $404,425 (b) $0 (a) $404,425 $274,099 (c) 1.48
2015 587,103 (b) 0 (a) 587,103 273,753 (c) 2.14 2016 N/A (b) N/A (a) N/A N/A (c) N/A
2017 N/A (b) N/A (a) N/A N/A (c) N/A
2018 N/A (b) N/A (a) N/A N/A (c) N/A
2019 N/A (b) N/A (a) N/A N/A (c) N/A
2020 N/A (b) N/A (a) N/A N/A (c) N/A
2021 N/A (b) N/A (a) N/A N/A (c) N/A
2022 N/A (b) N/A (a) N/A N/A (c) N/A
2023 N/A (b) N/A (a) N/A N/A (c) N/A
(a) As part of the dissolution, the Redevelopment Agency is no longer required to make the low and moderate income housing set-a side. (b) For the fiscal years ended 2013 thru 2015, tax increment reported in this table is the amount calculated by the County Audit or-Controller.

Under the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations. As of 2016, the County Auditor-Controller no longer tracks this information, therefore, it is Not Available. (c) Includes debt service paid by the Successor Agency.

Sources: City of San Pablo Financial Statements
124

CITY OF SAN PABLO

DEMOGRAPHIC AND ECONOMIC STATISTICS

LAST TEN FISCAL YEARS
Total Per Capita Contra Costa Cit y
Fiscal Cit y Personal Personal Unemplo yment Count y Population Year Population Income Income Rate (%) Population % of Count y 2014 29,465 $505,502,000 $17,156 12.6% 1,087,008 2.71%
2015 29,499 515,554,000 17,477 9.4% 1,102,871 2.67%
2016 30,829 498,050,000 16,155 7.7% 1,123,429 2.74%
2017 31,053 498,050,000 16,155 7.7% (a) 1,139,513 2.73% 2018 31,593 522,292,000 16,531 5.1% 1,149,363 2.75%
2019 31,817 567,648,000 17,841 3.5% 1,149,363 2.77%
2020 31,413 592,791,000 18,870 3.4% 1,155,879 2.72%
2021 31,041 643,152,000 20,719 11.4% 1,149,800 2.70%
2022 31,510 693,639,000 22,013 8.1% 1,168,294 2.70%
2023 31,301 768,975,000 24,567 4.0% 1,144,040 2.74%
NOTES: (a) Data not available for fiscal year, therefore data presented is for prior calendar year Sources: California State Department of Finance
California Employment Development Department

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Unemployment Rate (%)

2.50%

2.70%

2.90%

3.10%

3.30%

3.50%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
City Population as a % of County Population
$0.00
$0.50
$1.00
$1.50
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Billions
Total Personal Income
$0
$10
$20
$30
$40
$50
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Thousands
Per Capita Personal Income
125

CITY OF SAN PABLO
Principal Employers
Current Year and Nine Years Ago
2022-2023 2013-2014
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Ran k Employment Employees Ran k Employment Contra Costa College* 743 1 5.5% 768 2 5.4%
San Pablo Casino 421 2 3.1% 489 3 3.5%
West Contra Costa Unified School District 305 3 2.3%
Las Mantanas Supermarket 253 4 1.9% 91 10 0.6%
Brookside San Pablo Health Center 207 5 1.5%
Vale Health Care Center 188 6 1.4% 169 5 1.2%
West County Health Center 180 7 1.3% 120 8 0.9%
City of San Pablo 179 8 1.3% 216 4 1.5%
San Pablo Health Care and Wellness Center 130 9 1.0% 153 6 1.1% Creekside Health Care Center 96 10 0.7% 127 7 0.9%
Food Maxx 99 9 0.7%
Doctor's Medical Center* Closed 04/21/2015 994 1 7.0%
Subtotal 2,702 20.2% 3,226 22.9%
Total City Day Population 13,400 14,100

Sources: City of San Pablo Finance Department
California Employment Development Department
*includes part time employees
N/A = not available
126

CITY OF SAN PABLO
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Function
General Government 17.80 18.80 18.50 20.50 21.00 22.00 21.00 23.00 23.00 22.00 * Development Services 6.60 7.40 9.00 10.00 10.00 10.00 12.00 13.00 13.00 12.00 * Communit
y Services 35.15 33.85 42.40 40.50 41.30 42.80 42.30 43.30 43.30 43.00 * Public Works 20.80 21.80 25.50 25.00 26.00 28.00 27.50 27.50 27.50 27.00 Police 76.50 76.50 79.00 80.00 86.00 88.00 88.00 88.00 88.00 87.00 Total City 156.85 158.35 174.40 176.00 184.30 190.80 190.80 194.80 194.80 191.00 City Council 6.00 8.00 6.00 6.00 7.00
Grand Total 196.80 198.80 200.80 200.80 198.00
* These figures include all part-time staff were left out of previous FTE counts in the prior years' Annual Comprehensive Financial Reports.

0.00 20.00

40.00 60.00

80.00 100.00
120.00
140.00
160.00
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
FTE's
General Government Development Services Public Works Police City Council 127
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Function/Program
Police: (calendar year)
Police calls for Service 35,242 23,239 28,985 22,981 22,718 30,707 36,947 32,725 30,579 33,011 Crime Reports 5,695 3,857 3,116 3,467 3,961 4,840 4,989 4,000 3,914 4,316 Law violations:

Major crimes: homicides/rape 10 12 17 6 10 17 17 18 7 8 Other major crimes: robbery/larceny/burglary 799 522 565 630 558 706 570 184 591 Arrests 2,008 1,444 1,862 1,243 1,434 1,847 1,716 1,085 1,316 1,443 Traffic collisions 354 123 324 234 239 407 437 297 270 230 Traffic citations 2,687 1,663 1,813 828 855 2,971 1,315 365 1,351 1,590 Public Works:

Street resurfacing (miles) 3 2.4 1.5 1.4 1.4 91.0 0.9 0.0 0.0 Potholes repaired (square miles) 0.81 0.53 2.47 2.89 0.005 0.005 0.005 0.000002 0.000021 0.000026 Street Sweeping (miles) 3,130 2,813 2,813 3,336 6,489 6,489 6,025 6,025 6,025 6,025 Volume of material removed (cubic yards) 822 735 891 1,060 1,185 1,185 1,100.26 1,185 1,185 1,416 Storm Drains:

Catch basins cleaned 349 499 271 111 292 292 525 414 764 859 Volume of material removed (cubic yards) 22.31 107.00 147.95 4.28 57.11 57.11 9.00 20.00 29.00 5.78 Community Development:

Community Services:

Recreation class participants 4,107 7,437 9,433 9,568 5,128 7,939 1,775 638 2,802 3,373 Senior meals served 17,519 16,946 18,366 16,855 15,800 12,493 41,877 36,982 14,960 11,637 Rentals of Maple Hall 119 106 298 380 435 809 0 156 346 352 Rentals - Other Facilities 37 54 79 115 5,698 6,313 1,578 1,975 1,451 4,281 Education:

Enrollment:

Elementary schools (6) 2,973 2,993 2,697 2,627 2,640 2,526 2,309 2,121 1,941 2,341 Middle Schools (1) 1,040 964 999 1,011 997 864 773 648 646 591 High Schools (1) 400 400 400 400 400 1,005 950 1,056 747 1,712 Source: Various City Departments
Notes:

N/A denotes information not available.

Operating Indicators by Function/Program

CITY OF SAN PABLO
128

CITY OF SAN PABLO
Capital Asset Statistics by Function/Program
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Function/Program
Police:

P o l i c e s t a t i o n s 1111111111
Police patrol units 19 18 17 14 23 55 21 21 21 25
Community Resources:

M i l e s o f s t r e e t s 4 84 84 94 94 94 94 94 94 94 9 Street lights 182 182 192 192 243 243 243 347 347 347
Traffic Signals 25 25 27 29 29 29 29 29 29 29
Roadway Landscaping:

L a n d s c a p e d m e d i a n a c r e a g e 1111111111 Street trees 840 840 840 840 840 860 860 860 860 865
Community Recreation:

Community services:

C i t y p a r k s 7888888771
City parks acreage 19 23.2 23.2 23.2 23.2 23.2 23.2 19.2 19.2 19.2 Playgrounds 5555555555
E v e n t c e n t e r 0000000000
Historic house 3333333333
C i t y t r a i l s 1111111222
C i t y t r a i l s m i l e s 1111111222
C o m m u n i t y c e n t e r s 2222222222
S e n i o r c e n t e r s 2222222222
Baseball/softball diamonds 3333333222
S o c c e r / f o o t b a l l f i e l d s 6999999666
Wastewater (1)
Miles of storm drains 17 17 17 17 17 20 17 17 17 17
Source: Various City Departments
Notes:
(1) Wastewater services are provided by Contra Costa County 129